DTN Closing Livestock Comment 08/30 15:44
30 Aug 2023
DTN Closing Livestock Comment 08/30 15:44 Hogs Break Through Nearby Resistance; Cattle Close Lower The lean hog complex saw plenty of support through Wednesday's end, but both the live cattle and feeder cattle markets closed lower as traders didn't see the fundamental support that they'd hoped for. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The lean hog market saw good support through Wednesday's close, but both the live cattle and feeder cattle contracts closed lower. Heading into Thursday's market, traders are hopeful that some positive new will shine from the cash cattle market and comfort them that steady/slightly higher trade is merited. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.86 with a weighted average price of $80.55 on 6,912 head. December corn is down 6 cents per bushel and December soybean meal is down $1.70. The Dow Jones Industrial Average is up 37.57 points.