DTN Closing Livestock Comment 07/05 15:35
5 Jul 2023
DTN Closing Livestock Comment 07/05 15:35 Hogs Rally Wednesday While Cattle Wait for Cash Trade Heading into Thursday's market, all eyes and ears will be on the cash cattle market. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex closed in a mixed manner Wednesday as the lean hog complex ran higher through the day's end, but the cattle contracts remained hesitant with no cash cattle trade having developed yet. It's a gamble to see who's going to come out on top in this week's cash cattle market with both packers and feedlot managers committed to negotiating to their fullest potential. Hog prices closed $1.66 higher on the Daily Direct Afternoon Hog Report, with a weighted average price of $98.32 on 11,645 head. December corn is steady and December soybean meal is down $2.80. The Dow Jones Industrial Average is down 119.43 points.