DTN Closing Livestock Comment 07/16 16:00

DTN Closing Livestock Comment 07/16 16:00 Hogs Jump While Cattle Tumble Friday The cattle contracts didn't end up doing anything impressive in Friday's trade, but the lean hog market was able to roll higher before closing out the week. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Friday's livestock trade was lackadaisical, other than in the lean hog market. The live cattle market could have skipped Friday all together as the market faded lower and did diddly squat in the cash cattle market. The feeder cattle contracts didn't stand at chance at doing anything other than closing lower as the live cattle market offered no support and traders sidelined the market. Meanwhile, the market's eyes, ears and attention all fell on the lean hog market as Germany shared that they have two cases of Africa swine fever in their domestic herd. Demand hasn't been a problem for the U.S. pork market in recent months, but the news of more opportunity never disappoints a true entrepreneur. Hog prices closed lower on the National Direct Afternoon Hog Report, down $3.44 with a weighted average of $107.32 on 4,684 head. December corn is down 4 1/4 cents per bushel and December soybean meal is up $2.40. The Dow Jones Industrial Average is down 306.38 points and NASDAQ is down 118.90 points.