AgHost Livestock Close

DTN Closing Livestock Comments

Feeder cattle futures led the downward shift in livestock markets, with nearby contracts falling more than $2 per cwt within the feeder cattle complex. This added pressure to live cattle markets as the trading session continued, leaving October futures more than $1 per cwt lower in live cattle futures. Hog trade also turned lower with limited outside market support available, allowing traders a great opportunity to adjust positions and take profits in most markets. These market moves are making some in the industry nervous, but the general tone of these markets has not yet changed, creating additional optimistic expectations in both the cattle and hog contracts. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.70 with a weighted average of $105.67 on 5,482 hogs. December corn closed down 5 at $4.18 and December soybean meal closed down $1.30 at $282.5. The Dow Jones Industrial Average is down 24.58 at 45,271.23.