DTN Closing Livestock Comment 07/13 16:14
Livestock Contracts Favor Bullishness Monday Afternoon
Feeder cattle contracts stormed through the day, closing easily $1.00
stronger throughout most of the complex.
DTN Livestock Analyst
All three markets closed predominantly higher with the biggest resistance
seen in the nearby live cattle contracts. Feeder cattle contracts didn't bat an
eye at trading throughout the day, and as the afternoon advanced, the lean hog
complex became more favorable to producers. Hog prices closed higher on the
National Direct Afternoon Hog Report, up $0.45 with a weighted average of
$30.45 on 8,887 head. December corn is down 8 1/4 cents per bushel and December
soybean meal is down $8.40. The Dow Jones Industrial Average is up 10.50 points
and NASDAQ is down 226.60 points.
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