DTN Closing Livestock Comment 07/06 16:09
Cash Cattle Market Remains in Standoff Through Wednesday
Come Thursday, all eyes and ears will be on the cash market as feedlots are
batting for higher prices.
DTN Livestock Analyst
Wednesday's market was a lot more fruitful than Tuesday, as the cattle
contracts closed higher and the lean hog market kept its vibrant rally. The
lean hog market saw tremendous support of its cash market, which helped fuel
the contracts drive to keep trading higher. Come Thursday, all eyes will be on
the cash cattle market as there's been very few cattle trade thus far. Hog
prices closed higher on the Daily Direct Afternoon Hog Report, up $3.28 with a
weighted average of $123.74 on 28,776 head. December corn is up 6 1/2 cents per
bushel and December soybean meal is up $1.90. The Dow Jones Industrial Average
is up 69.86 points.
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