DTN Closing Livestock Comment 10/02 15:29
Cattle Maintain Support Through Monday's End
Heading into Tuesday's market cattlemen hope that the market continues to
trek higher, and that good beef demand is again noted in the day's boxed beef
DTN Livestock Analyst
It was a mixed day for the livestock complex as the cattle contracts kept
rallying through the day's end, but the nearby lean hog contracts suffered.
Heading into Tuesday's market cattle will keep a close eye on corn prices and
hogs hope that their market finds a bottom sooner rather than later. Hog prices
closed higher on the Daily Direct Afternoon Hog Report, up $0.86 with a
weighted average price of $74.42 on 668 head. December corn is up 12 cents per
bushel and December soybean meal is down $6.90. The Dow Jones Industrial
Average is down 79.18 points.
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