DTN Closing Livestock Comment 07/14 15:29
14 Jul 2023
DTN Closing Livestock Comment 07/14 15:29 Cash Cattle Trade Leads the Charge Friday As traders walk out for the weekend, feedlots are still negotiating deals with packers and are currently getting cattle sold higher in the North. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: What a week it was! The corn market bounced around as it juggled news from the USDA reports to weather developments, all of which has serious ramifications for the cattle complex. Even so, both the live cattle and feeder cattle contracts closed higher by Friday's end. The real champion of this week's marketplace are the feedlot managers who continue to keep the cash cattle market strong even though the seasonal pressures of July. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.63 with a weighted average price of $99.91 on 6,037 head. December corn is up 13 1/4 cents per bushel and December soybean meal is up $1.10. The Dow Jones Industrial Average is up 99.30 points.