DTN Closing Livestock Comment 06/03 16:05
3 Jun 2020
DTN Closing Livestock Comment 06/03 16:05 Lean Hog Contracts Fight Nearby Pressure Cattle contracts rallied modestly through closing Wednesday, with lean hog contracts struggling to rally nearby contracts. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: As the week looks to round the midway point and head towards the later part of the week, contracts have traded mostly lower thus far, although cattle contracts were able to close higher Wednesday afternoon. With boxed beef prices continuing to weaken at an exponential rate, weakness may be how the week ends too. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.77 with a weighted average of $33.96 on $7,827 head. July corn is down 1/4 cent per bushel and July soybean meal is up $2.60. The Dow Jones Industrial Average is up 527.24 points and NASDAQ is up 74.53 points.