DTN Closing Livestock Comment 06/09 16:13
9 Jun 2020
DTN Closing Livestock Comment 06/09 16:13 Cattle Shoot Higher, Lean Hog Contracts Close Mixed Livestock contracts closed with more optimism than anticipated Tuesday. As the week progresses the cash cattle traders continue to wonder where the bulk of packer's bids will land this week. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Lean hog contracts fought some nearby pressure, but other than that, the livestock complex was able to close mostly higher for the day. It was encouraging to see both markets move a considerable amount of meat as the industry needs consumers to help work through this backlog. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.05 with a weighted average of $30.76 on 6,942 head. July corn is down 6 1/4 cents per bushel and July soybean meal is down $1.30. The Dow Jones Industrial Average is down 300.14 points and NASDAQ is up 29.01 points.