DTN Closing Livestock Comment 08/26 16:52
26 Aug 2020
DTN Closing Livestock Comment 08/26 16:52 Cattle Contracts Close Down More Than $1 It was another day of fully lower prices for the cattle contracts, but thankfully the lean hog market snuck through the day with higher deferred contracts and a stronger cash market. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Wednesday was another tough close for the cattle contracts, but the lean hog contracts were able to close mixed with deferred contracts rallying modestly. Push back from the cash market has only added to traders' fears that the cattle contracts are reaching a short-term top. Hog prices closed sharply higher on the National Direct Afternoon Hog Report, up $1.38 with a weighted average of $43.66 on 8,197 head. October lean hogs are down $0.40 at $55.55, December corn is down 1/4 cent per bushel and December soybean meal is down $0.70. The Dow Jones Industrial Average is up 66.65 points and the NASDAQ is up 189.50 points.