DTN Closing Livestock Comment 07/05 15:34
5 Jul 2019
DTN Closing Livestock Comment 07/05 15:34 Low Trading Volume Allows Cattle Prices to Chop Higher Cash cattle business has remained steady around $109 through the past two weeks. Cattle futures Friday chopped higher amid light holiday trading volumes, but the lean hog market experienced selling pressure and is still on a downward trend. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: From Friday to Friday, livestock futures scored the following changes: August live cattle up $2.65, October live cattle up $2.66, August feeder cattle up $1.98, September feeder cattle up $2.00, July lean hogs up $0.03, August lean hogs up $1.05. During the last half of this holiday week, cash cattle business was conducted mostly steady with last week at $109 (live). Dressed business at $180 was generally $1 per cwt higher than last week. Corn futures closed 1 penny higher, but the soybean complex experienced losses Friday, including July soybean meal down $2.20. The stock market (S&P 500) closed down 5 points Friday but netted weekly gains, including a fresh all-time high Wednesday.