DTN Closing Livestock Comment 11/29 16:07
29 Nov 2021
DTN Closing Livestock Comment 11/29 16:07 Traders Look for Support in Cattle Complex Heading into Tuesday's trade, the cattle contracts will be looking for fundamental support and the lean hog contracts are hopeful to find continued support in both the cash market and pork cutout values. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle contracts didn't walk away with any wild wins through Monday's trade, but feedlots aren't worried about this week's trade after seeing how aggressive packers were in last week's cash market. Upon seeing that packers committed 90% of last week's volume for the nearby delivery. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.02 with a weighted average of $55.15 on 11,221 head. December corn is down 5 3/4 cents per bushel and January soybean meal is down $6.70. The Dow Jones Industrial Average is up 236.60 points and NASDAQ is up 291.17 points.