DTN Closing Livestock Comment 07/06 15:46
6 Jul 2023
DTN Closing Livestock Comment 07/06 15:46 Southern Cattle Begin to Trade Steady to $1 Lower Heading into the last trading day of the week, cattlemen will continue to closely track the cash cattle market as everyone wants to see who's going wins the battle in the North this week: Packers or feedlots? ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Midafternoon Thursday, a light movement was noted in the South as live cattle began to trade for $178, which is steady to $1 lower than last week's weighted average. The North remains in a heated standoff with packers, and no dressed trade has been reported just yet. The nearby lean hog contracts drew back ahead of closing as traders noted the pullback in pork cutout values. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.88 with a weighted average price of $100.20 on 12,656 head. December corn is up 13 cents per bushel, and December soybean meal is down $1.40. The Dow Jones Industrial Average is down 362.82 points.