DTN Closing Livestock Comment 09/26 16:09
Livestock Complex Closed Lower as Widespread Selling Summaries Monday's
Heading into Tuesday's market both beef and pork producers are hopeful that
domestic demand will help ease some of the market's pain.
DTN Livestock Analyst
The livestock complex couldn't avoid the market's looming pressure as
investors become more and more fixated on the brutal combination of higher
interest rates and hot inflation. The entire livestock complex closed lower and
seemed to be focused on one thing -- the economy's weakened state. Hog prices
closed higher on the Daily Direct Afternoon Hog Report, up $5.54 with a
weighted average of $91.88 on 8,882 head. December corn is down 10 1/2 cents
per bushel and December soybean meal is down $5.80.
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