DTN Closing Livestock Comment 06/28 15:52
28 Jun 2023
DTN Closing Livestock Comment 06/28 15:52 Weakness in the Grain Sector Continues to Push Cattle Higher Heading into Thursday's market livestock enthusiasts will focus on any developments in the cash cattle market as well as the afternoon's Quarterly Hogs and Pigs Report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: For the cattle complex, Wednesday's market was rather supportive as traders continue to run higher on the fact that corn prices keep trending lower and that feedlots seem extremely committed to seeing cash prices either trade steady this week or that they'll simply hold over their showlists. Meanwhile, the hog market closed mostly lower as traders don't want to do anything with the market until they see what Thursday's Quarterly Hogs and Pigs report brings. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.30 with a weighted average price of $94.21 on 6,486 head. December corn is down 24 1/4 cents per bushel and December soybean meal is down $7.40. The Dow Jones Industrial Average is down 74.08 points.