DTN Closing Livestock Comment 09/13 16:10
13 Sep 2022
DTN Closing Livestock Comment 09/13 16:10 Inflation Buzz Drives Cattle Lower The live cattle and feeder cattle markets weren't able to shake the market's news of higher inflation yet again in the month of August. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a brutal day for the markets as the nation's Consumer Price Index summary shared worse news than what was expected as inflation has jumped to 8.3%. Needless to say, the live cattle and feeder cattle markets crumbled at this news. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $9.98 with a weighted average of $99.41 on 5,895 head. December corn is down 3 1/4 cents per bushel and December soybean meal is down $10.80. The Dow Jones Industrial Average is down 1,276.37 points.