DTN Closing Livestock Comment 07/12 15:38
12 Jul 2023
DTN Closing Livestock Comment 07/12 15:38 Livestock Contracts Get the 'Run and Dump' Wednesday's market was looking like it was going to trade incredibly strong, but then, ahead of closing, traders grew leery and dumped the contracts lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The best way to describe Wednesday's market is to say that it was odd. Grain prices closed dramatically lower and, instead of that fueling the livestock contracts to race even higher, traders jumped ship right ahead of the day's end and left the livestock contracts high and dry to close lower. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.37 with a weighted average price of $100.76 on 8,099 head. December corn is down 17 3/4 cents per bushel and December soybean meal is down $8.70. The Dow Jones Industrial Average is up 92.35 points.