DTN Closing Livestock Comment 10/03 15:46
Economic Pressure Sends Livestock Plummeting
It was a tough day for the livestock complex as all three of the markets
closed lower due to outside economic pressure.
DTN Livestock Analyst
It was a doggish day for the livestock complex as a spike in the number of
jobs available in the U.S. jumped sharply higher and will likely ensure that
interest rates are increased later this month. The feeder cattle complex too
the brunt of Tuesday's blow as its contracts closed anywhere from $4.00 to
$5.00 lower. Hog prices closed lower on the Daily Direct Afternoon Hog Report,
down $3.18 with a weighted average price of $71.24 on 5,474 head. December corn
is down 1 1/4 cents per bushel and December soybean meal is down $2.60. The Dow
Jones Industrial Average is down 430.97 points.
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