DTN Closing Livestock Comment 07/13 15:36
13 Jul 2023
DTN Closing Livestock Comment 07/13 15:36 Higher Corn Prices Keep Cattle From Closing Higher Heading into Friday's market, all eyes and ears will be on the cash cattle complex and what feedlots accomplish. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Thursday ended up being mixed market for the livestock contracts as the lean hog contracts did close higher after Wednesday's dramatic fall, but the cattle contracts weren't able to do the same as higher corn prices got in the way. The cash cattle market has still only been lightly tested, meaning that Friday's market will need to see cattle trade. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.78 with a weighted average price of $101.54 on 7,245 head. December corn is up 16 3/4 cents per bushel and December soybean meal is up $9.50. The Dow Jones Industrial Average is up 50.53 points.