DTN Closing Livestock Comment 11/02 16:04
2 Nov 2022
DTN Closing Livestock Comment 11/02 16:04 Slow and Mundane Livestock Markets Wednesday Come Thursday, the cattle and hog markets will be anxious to see how export sales did and also how cash trades develops. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was a less than eventful day for the livestock complex as the contracts looked for fundamental support. Besides corn trading lower, which helped the feeder contracts, the market came up short of finding the support it needed. It also didn't help that the Feds raised interest rates again by another 75 basis points, which is the central bank's sixth rate hike this year. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.27 with a weighted average of $89.48 on 10,555 head. December corn is down 10 1/4 cents per bushel and December soybean meal is down $0.30. The Dow Jones Industrial Average is down 505.44 points.