DTN Closing Livestock Comment 09/29 16:04
Cattle Keep Momentum Through Closing Tuesday
Cattle contracts kept the market moving higher throughout the day's close
and hope to see the cash market follow suit later in the week.
DTN Livestock Analyst
It was a strong day for the cattle contracts as both the live cattle market
and feeder cattle markets were able to close higher. Looking at boxed beef
prices and seeing some positive gains in price along with a considerable
movement of supply, bull-spreaders are eager about the nearby market. Hog
prices closed lower on the National Direct Afternoon Hog Report, down $0.02
with a weighted average of $64.08 on 7,086 head. December corn is down 2 cents
per bushel and December soybean meal is down $2.00. The Dow Jones Industrial
Average is down 131.40 points and NASDAQ is down 32.27 points.