DTN Closing Livestock Comment 07/18 15:35
18 Jul 2024
DTN Closing Livestock Comment 07/18 15:35 Cattle Face Some Technical Pressure The futures market's lower trend in the cattle sector didn't help Northern feedlots as they let some cattle trade for $310, which is $2.00 lower than last week's weighted average. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a mixed day for the livestock complex as the hog sector rallied through Thursday's end, but technical pressure sent both the live cattle and feeder cattle contracts lower through the day's close. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.31 with a weighted average price of $85.39 on 3,595 head. December corn is down 6 3/4 cents per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is down 533.06 points.