DTN Closing Livestock Comment 08/03 15:12

DTN Closing Livestock Comment 08/03 15:12 Lean Hogs Break From Higher Trend The cattle contracts were all able to hold on to corrective gains by the end of Thursday's trading session, but lean hog futures spent the day moving lower. Elaine Kub Contributing Analyst GENERAL COMMENTS: The live cattle and feeder cattle futures markets don't have much momentum this week, as the bullish supply-and-demand situation persists but no one wants to try for fresh highs without fresh news. We continue to await major volumes of cash cattle trade for the week, but for reference, last week was marked at mostly $179 in the South and $294 in the North. Meanwhile, Thursday seemed to be the day lean hog traders picked to sell off previous trend-following positions. The National Direct Afternoon Hog Report showed negotiated swine prices down $1.32 to a weighted average of $100.55 on 4,008 head. Prices ranged from $93 to $107, and the five-day rolling average is now $102.60. September corn moved down 7 1/2 cents to $4.80 3/4 per bushel and August soybean meal closed down $0.60 per ton to $451.20. The Dow Jones Industrial Average was down 67.42 points and the NASDAQ was down 17.20 points.