DTN Closing Livestock Comment 10/29 16:02
Cattle Dive Lower as Traders Worry About the Market Being Overbought
Tuesday was tough on the cattle complex, and Wednesday's market could likely
see continued pressure as traders will need something to develop fundamentally
before they'll likely be confident in the market again.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Tuesday ended up being a mixed day for the livestock complex as the cattle
complex dove lower as traders panicked about the market being overbought, but
the lean hog complex successfully traded higher throughout the day. Still no
cash cattle sales have been noted. December corn is up 3 cents per bushel and
December soybean meal is down $3.00. The Dow Jones Industrial Average is down
154.52 points.
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