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DTN Closing Livestock Comment 10/10 15:30
Northern Dressed Cattle Trade $2.00 Higher; Still Waiting for Southern
Cattle to Trade
At the time of this writing, no Southern live cattle had traded, but trade
will likely develop later today, and prices could be higher.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was an incredible day for the cattle contracts as support rallied the
contracts higher through the week's end despite the fact that the equity
markets still closed lower. At the time of this writing, no Southern live
cattle have traded, but Northern dressed cattle were being marked at $362,
which is $2.00 higher than the previous week's weighted average. December corn
is down 5 1/4 cents per bushel and December soybean meal is down $1.90. The Dow
Jones Industrial Average is down 878.82 points and the NASDAQ is down 820.20
points.
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