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Market Commentary

DTN Closing Livestock Comment 10/23 16:15

10/23/2020 - 16:47:00

DTN Closing Livestock Comment 10/23 16:15
   Feeder Prices Spooked By Higher Corn

   Some mixed results among livestock futures Friday couldn't outweigh the
overall bearish movement of the market this week, capped by a bearish Cattle on
Feed report.

Elaine Kub
Contributing Analyst

   The painful week of losses in both cattle and hog prices finally came to a
close Friday, capped by a bearish Cattle on Feed report that showed inventory
at 11.7 million head, up 4% year-over-year. Hog prices closed lower on the
National Direct Afternoon Hog Report, down $1.27 with a weighted average of
$59.55 on 5,161 head. December corn closed up 3 cents per bushel and December
soybean meal closed up $4 per ton. The Dow Jones Industrial Average is down 28
points and NASDAQ is up 29 points.

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