DTN Closing Livestock Comment 06/10 16:07
10 Jun 2020
DTN Closing Livestock Comment 06/10 16:07 Livestock Contracts Close Fully Lower Wednesday Livestock contracts closed lower in all three markets on Wednesday. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The midweek point didn't serve the livestock industry well, as all three contracts closed lower and the cash cattle market went lower as well. Producers know that the summer is usually a tough time for live cattle prices as supply overweighs demand and cash cattle prices have historically gotten softer throughout the season. Add this typical behavior with the chaos COVID-19 continues to create and the livestock industry isn't left feeling too warm and giddy about summer. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.60 with a weighted average of $30.16 on 6,527 head. July corn is down 1 1/4 cents per bushel and July soybean meal is up $1.70. The Dow Jones Industrial Average is down 282.31 points and NASDAQ is up 66.60 points.