DTN Closing Livestock Comment 09/18 15:53
Cattle Contracts Secure Late Gains Friday
Friday's trade was worth watching as cash cattle trade jumped higher yet
again and allowed the cattle contracts to close stronger.
DTN Livestock Analyst
Earlier this week it seemed like the week's sole attention was going to
align with the lean hog complex, leaving the cattle complex to drift merely
lower. But as the week's cash cattle trade developed for stronger money,
traders noticed the underlying support and upon Friday's $4.00 cash cattle
jump, the markets rallied. Hog prices closed lower on the National Direct
Afternoon Hog Report, down $2.35 with a weighted average of $60.26 on 8,722
head. December corn is up 3 1/4 cents per bushel and December soybean meal is
up $6.80. The Dow Jones Industrial Average is down 244.69 points and NASDAQ is
down 117.00 points.
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