DTN Closing Livestock Comment 07/22 16:14
22 Jul 2022
DTN Closing Livestock Comment 07/22 16:14 Livestock Contracts Rally Ahead of USDA Reports Heading into Monday's market, the cattle market is anyone's call as traders and cattlemen alike will have to choose which report holds more weight in their eyes. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Heading into Monday's market, the big question will be: which USDA report are the cattle contracts going to focus on? The Cattle on Feed report was somewhat bearish with its larger-than-expected placements, but the Cattle Inventory report was bullish with the market possessing the fewest beef cows it's had since 2014. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $6.23 with a weighted average of $118.48 on 4,266 head. December corn is down 9 1/4 cents per bushel and December soybean meal is down $3.20. The Dow Jones Industrial Average is down 137.61 points.