DTN Closing Livestock Comment 08/09 15:56
9 Aug 2023
DTN Closing Livestock Comment 08/09 15:56 Traders Keep an Arm's Length From Hogs; Support Cattle The livestock complex saw mixed interest as traders warmed up to the idea that cash cattle prices could trade steady and supported both the live cattle and feeder cattle contracts, but denied supporting the hog complex. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Traders were leery of overly supporting the hog complex with pork demand being volatile, but the cattle contracts rallied on the fact that corn trended lower throughout the day. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.31 with a weighted average price of $102.00 on 6,487 head. December corn is down 4 1/2 cents per bushel and December soybean meal is down $3.20. The Dow Jones Industrial Average is down 191.13 points.