DTN Closing Livestock Comment 10/29 16:16
Cattle Build Stronger Into Thursday's Close
Cattle contracts had another commendable day as nearby live cattle contracts
closed $2.00 to $3.00 higher.
DTN Livestock Analyst
Thursday was another strong day for the cattle contracts as support
continues to grow and is allowing for the markets to have a commendable rally.
As the market prepares for Friday, watching how the week's cash cattle trade
will pan out is going to be interesting. Hog prices closed lower on the
National Direct Afternoon Hog Report, down $0.31 with a weighted average of
$61.70 on 8,017 head. December corn is down 3 cents per bushel and December
soybean meal is up $0.20. The Dow Jones Industrial Average is up 139.16 points
and NASDAQ is up 180.72 points.
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