DTN Livestock Close: Minor Market Correction

Photo: Blair Fannin, Texas A&M AgriLife Extension Service

Friday’s close was more gracious than the noon hour assumed. Though all livestock contracts closed lower than their initial open, the markets were able to muster up some lost support and close on only a modest correction.

GENERAL COMMENTS:

Welcoming a soft correction, livestock markets closed lower. Hog prices are lower on the National Direct Afternoon Hog Report, down $0.94 with a weighted average of $56.86.

From Friday to Friday livestock futures scored the following changes: October live cattle up $1.03, December live cattle up $1.47; October feeder cattle down $0.60, November feeder cattle down $1.40; December lean hogs down $1.65 and February lean hogs up $0.43

December corn is down 3 3/4 cents per bushel and December soybean meal is up $1.70. The Dow Jones Industrial Average is down 255.68 points and NASDAQ is down 67.31 points.

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