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DTN Closing Livestock Comment 10/17 16:30
Livestock Run Lower Ahead of the Weekend
Overall, it was a painful day for the livestock industry, as the lean hog
complex didn't see enough support to close higher, and the cattle complex sank
substantially lower upon hearing that Trump intends to find a way to cheapen
beef prices.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex had a rough day as the cattle contracts fell sharply
lower upon hearing more news that President Trump is working to cheapen beef
prices, and the lean hog complex again saw weak consumer demand. It was
impressive, however, to see strong trade in the fed cash cattle market as
Northern prices rallied $9.00 higher and Southern prices jumped $5.00 higher.
December corn is up 3/4 cent per bushel and December soybean meal is up $4.10.
The Dow Jones Industrial Average is up 238.37 points and the NASDAQ is up
117.43 points.
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