DTN Closing Livestock Comment 07/12 16:09
12 Jul 2021
DTN Closing Livestock Comment 07/12 16:09 Live Cattle and Lean Hogs Rally Through Monday's Close The live cattle and lean hog contracts closed higher, but the feeder cattle contract slid lower amid higher corn prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Both the lean hog and live cattle contracts were able have higher closes through the day's end, but that doesn't necessarily mean that the live cattle market will have an easy feat in the days ahead. The live cattle market will likely face technical pressure this week and, with boxed beef prices trailing lower, the cash cattle market will have a tough time keeping prices steady. Hog prices closed lower on the National Direct Afternoon Hog Report, down $4.12 with a weighted average of $107.74 on 2,905 head. December corn is up 16 cents per bushel and December soybean meal is up $3.60. The Dow Jones Industrial Average is up 126.02 points and NASDAQ is up 31.32 points.