DTN Closing Livestock Comment 06/08 16:17
8 Jun 2020
DTN Closing Livestock Comment 06/08 16:17 Lean Hogs Press Higher Through Monday; Cattle Contracts Struggle The feeder cattle contract endured the most significant loss Monday as contracts fell at least $1.00 lower and desperately look for support from the live cattle market. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Monday came and went mostly uneventful as the day traded steady with how it opened. The lean hog complex took advantage of optimism in the market and the opportunity to rally, as slaughter speeds are running efficiently. Meanwhile, both cattle contracts are anxious to see how cash cattle will develop. Hog prices closed lower on the National Direct Afternoon Hog Report, down $1.32 with a weighted average of $30.82 on 5,651 head sold. July corn is up 2 1/2 cents per bushel and July soybean meal is down $0.70. The Dow Jones Industrial Average is up 461.46 points and NASDAQ is up 110.66 points.