DTN Closing Livestock Comment 07/25 16:04
25 Jul 2022
DTN Closing Livestock Comment 07/25 16:04 Live Cattle Close Higher Despite a Shaky Cash Market If corn prices are lower in Tuesday's market, than the feeder cattle complex may stand a chance at trading higher given that demand is still supportive in sales across the countryside. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The live cattle market rounded out the day with a slightly higher close with the feeder cattle and lean hog contracts remaining pressured through closing. It's likely that the hog complex sees more support in Tuesday's market as packers will likely show interest in the cash market, but the feeder cattle market's fate largely depends on what the corn market does. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.29 with a weighted average of $117.19 on 4,915 head. December corn is up 19 1/2 cents per bushel and December soybean meal is up $17.10. The Dow Jones Industrial Average is up 90.75 points.