DTN Closing Livestock Comment 07/08 16:08
8 Jul 2021
DTN Closing Livestock Comment 07/08 16:08 Technical Resistance Wane on Cattle Contracts Looking to Friday's trade, the market will be anxious to see what appears on the week's export report, and the cattle contracts hope that technical resistances doesn't send them plundering lower ahead of the weekend. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It wasn't a positive day for the cattle contracts as stout resistance kept the contracts from trading higher, but the lean hog contracts enjoyed a higher pork cutout values and modest gains on the board. Hog prices closed lower on the National Direct Afternoon Hog Report, down $1.09 with a weighted average of $109.82 on 5,001 head. December corn is down 7 1/4 cents per bushel and December soybean meal is down $2.40. The Dow Jones Industrial Average is down 259.86 points and NASDAQ is down 105.28 points.