DTN Closing Livestock Comment 10/25 16:08
25 Oct 2022
DTN Closing Livestock Comment 10/25 16:08 Traders Look for Fundamental Assurance in the Cattle Sector Heading into Wednesday's market, the cattle complex will again look for reassurance that higher trade is indeed plausible before pushing the contracts any higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Traders handled the cattle contracts hesitantly throughout Tuesday's market as they're needing to see follow-through support fundamentally before they'll push the contracts any higher. The lean hog market closed higher as traders felt like the demand in the cash sector was strong enough to justify a higher close. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $7.59 with a weighted average of $96.77 on 16,836 head. December corn is up 4 3/4 cents per bushel and December soybean meal is up $6.90. The Dow Jones Industrial Average is up 337.12 points.