DTN Closing Livestock Comment 07/18 15:48
18 Jul 2023
DTN Closing Livestock Comment 07/18 15:48 Live Cattle Keep Momentum While Hogs and Feeders Close Mostly Lower Heading into Wednesday's market, keeping an eye on the cash cattle complex will be vital, as packer interest could increase. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Tuesday was a mixed day for the livestock complex as both the lean hog and feeder cattle contracts closed lower while the live cattle complex ran to new contract highs in several of its nearby contracts. No cash cattle trade has developed yet, and packers and feedlots are expected to wait until late in the week again this week to trade cattle. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.25 with a weighted average price of $104.25 on 14,745 head. December corn is up 28 1/2 cents per bushel and December soybean meal is up $6.80. The Dow Jones Industrial Average is up 366.92 points.