DTN Closing Livestock Comment 09/22 16:05
Cattle Continue to Trend Lower While Hogs Jump Higher
Tuesday was another disappointing day for the cattle contracts but served
the lean hog sector well.
DTN Livestock Analyst
It's been a tough week for the cattle contracts as traders invest in other
contracts and let the cattle complex sit idle. Meanwhile, the lean hog market
is bursting with support from a robust cash market and strong technical support
on the board. Hog prices closed sharply higher on the National Direct Afternoon
Hog Report, up $3.27 with a weighted average of $63.26 on 10,108 head. December
corn is down 1/2 cent per bushel and December soybean meal is up $2.90. The Dow
Jones Industrial Average is up 140.48 points and NASDAQ is up 184.84 points.
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