DTN Closing Livestock Comment 06/16 16:24
16 Jun 2020
DTN Closing Livestock Comment 06/16 16:24 Livestock Market Heads Into Wednesday Scattered Tuesday's close left Wednesday a lot to manage as cattlemen hope feeder cattle contracts keep their vigor amid weakening cash cattle prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Juggling the pieces of this week's markets isn't going to be for the lackadaisical. Cattle contracts are rolling higher while the cash market bleeds lower, and the lean hog complex closed substantially lower. The one positive thing throughout both markets is that protein products are moving, and consumers are going to be able to afford the meat offered at stores this summer. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.72, with a weighted average of $29.06 on 8,378 head. July corn is down 1/4 cent per bushel, and July soybean meal is down $0.50. The Dow Jones Industrial Average was up 526.82 points, and NASDAQ was up 169.85 points.