DTN Closing Livestock Comment 10/31 16:26
31 Oct 2022
DTN Closing Livestock Comment 10/31 16:26 High Grain Prices Kept Cattle Lower The livestock complex closed mixed with the cattle contracts unable to look beyond the grain market's rally. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS The cattle contracts weren't pleased to see the grain market's momentum throughout Monday's trade, but it didn't seem to affect the lean hog complex. Traders are looking for substantial fundamental support before they'll comfortably push either of the cattle contracts higher. Hog prices closed lower on the Daily Direct Morning Hog Report, down $2.20 with a weighted average of $88.34 on 4,522 head. December corn is up 10 3/4 cents per bushel and December soybean meal is up $2.70. The Dow Jones Industrial Average is down 128.85 points.