DTN Closing Livestock Comment 06/17 16:12
17 Jun 2020
DTN Closing Livestock Comment 06/17 16:12 Cattle Contracts Close Higher, Lean Hogs Lower Though they didn't all trade the same, all three livestock contracts closed Wednesday with some positivity. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: As surprising as it may be, packers strengthened their bids and had to inch their prices up in order to buy cattle throughout Wednesday. The support came as a lofty surprise to the live cattle contracts, which pleasingly closed higher. The feeder cattle complex rolled strong throughout all of Wednesday, leaning heavily on the support from strong demand in the countryside. Lean hog contracts may not have been able to capture stronger closes throughout the market, but a higher pork cutout value boosted nearby contracts just enough to allow for some positivity. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.36 with a weighted average of $28.70 on 7,266 head. July corn is up 1 1/4 cents per bushel and July soybean meal is down $0.10. The Dow Jones Industrial Average is down 170.37 points and NASDAQ is up 14.66 points.