DTN Closing Livestock Comment 07/24 16:59
24 Jul 2019
DTN Closing Livestock Comment 07/24 16:59 Livestock Markets Stabilize Midweek Livestock futures ended mixed in light trade Wednesday. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures ended mixed in light trade Wednesday with buyers looking for increased movement later in the week. The firm tone seen in cattle and hog trade remains intact, but limited trade volume may allow for increased movement. Cash cattle markets remain generally undeveloped following a few bids developing at $109 per cwt live basis. Asking prices continue to develop at $113 live basis and $186 and higher. Trade is expected to develop sometime Thursday or Friday, but the current wide gap between asking prices and bids will need to narrow before any agreements develop. The National Daily Direct afternoon hog report was $1.96 higher ($67-$85, weighted average $80.88) on 10,446 head sold. Corn futures closed lower in sluggish trade with September futures down 1 1/2 cents per bushel. The Dow Jones Index was 79 points lower with the NASDAQ up 70 points.