DTN Closing Livestock Comment 06/22 16:09
22 Jun 2021
DTN Closing Livestock Comment 06/22 16:09 Livestock Contracts Head Higher Tuesday The livestock contracts closed higher Tuesday and hope to keep the momentum rolling through Wednesday. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The technical support that the livestock market saw throughout Tuesday's trade came as a pleasant surprise. Heading into Wednesday, feeders hope that the corn market holds steady, and feedlots pray that packers remain aggressive. Meanwhile, the lean hog market hopes to keep the bottom of the pork cutout values from deteriorating even more. Hog prices closed higher on the National Direct Afternoon Hog Report, up $4.47 with a weighted average of $128.04 on 9,880 head. Total red meat supplies in freezers were down 4% from the previous month and down 3% from last year. July corn is up 1/2 cent per bushel and July soybean meal is down $9.80. The Dow Jones Industrial Average is up 68.61 points and NASDAQ is up 111.79 points.