DTN Closing Livestock Comment 10/28 16:10
Cattle Contracts Beat to Their Own Drum
While the rest of the futures market closed lower, cattle contracts kept
with their rally and closed higher Wednesday afternoon.
DTN Livestock Analyst
While nearly all other markets closing lower Wednesday afternoon, cattle
contracts were able to march higher and conduct their own rally regardless of
how the other markets traded. Hog prices closed lower on the National Direct
Afternoon Hog Report, down $0.80 with a weighted average of $61.76 on 6,960
head. December corn is down 14 1/2 cents per bushel and December soybean meal
is down $7.30. The Dow Jones Industrial Average is down 943.24 points and
NASDAQ is down 426.48 points.
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