DTN Closing Livestock Comment 07/23 16:52
23 Jul 2019
DTN Closing Livestock Comment 07/23 16:52 Hog Futures Surge Higher Sharp gains redeveloped in lean hog futures following triple-digit moves securing even more bullish underlying trade expectations. By Rick Kment DTN Analyst GENERAL COMMENTS: Sharp gains developed in lean hog futures Tuesday, sparking additional bullish market action as nearby contracts tested limit gains. Firm support came from gains in cash hog trade. Corn futures moved higher in sluggish trade. September futures are 3 cents per bushel higher. Dow Jones Index is 177 points higher with NASDAQ up 47 points. Cash cattle trade is quiet. A few bids and asking prices are likely to develop during the day Wednesday. National Daily Direct afternoon hog report is $2.71 higher with a weighted average of $78.80 per cwt. Full range of $64 to $82.50 per cwt on 11,522 head sold.