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DTN Closing Livestock Comment 11/21 16:19
Lack of Fundamental Support Sent Livestock Contracts Lower
The livestock complex didn't possess enough fundamental support to close
higher this afternoon.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex closed fully lower, with simply not enough support
from the market's fundamentals to allow the contracts any other option ahead of
the weekend. The only positive development late this week was Friday's Cattle
on Feed report, which showed placements down 10% compared to a year ago.
December corn is down 1 cent per bushel and January soybean meal is up $1.60.
The Dow Jones Industrial Average is up 493.15 points and the NASDAQ is up
195.03 points.
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