DTN Closing Livestock Comment 07/10 15:44
10 Jul 2023
DTN Closing Livestock Comment 07/10 15:44 Cattle Grow Stronger Throughout Monday's Trade Even though the nearby corn contracts closed higher, that didn't stop the feeder cattle contracts from rallying as demand for both feeders and calves remains stellar. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle complex only grew stronger throughout the day while the lean hog contracts remained hesitant. Stellar demand continues to send feeder cattle prices sharply higher throughout the countryside and is evident through the day's ending CME Feeder Cattle Index. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.64 with a weighted average price $97.89 on 4,459 head. December corn is up 5 cents per bushel and December soybean meal is up $2.60. The Dow Jones Industrial Average is up 209.52 points.