DTN Closing Livestock Comment 08/25 16:16

DTN Closing Livestock Comment 08/25 16:16 Support in Hog Futures Adds Support to Livestock Trade Triple-digit gains returned to lean hog futures Wednesday afternoon. Following back and forth movements through most of the week, the underlying support seen in nearby lean hog trade seems to be pointing to slight to moderate support going into the last couple days of the week. Cattle futures struggled to maintain market momentum seen earlier in the week with all remaining 2021 contract posting triple-digit losses. By Rick Kment, DTN Contributing Analyst GENERAL COMMENTS: Strong pressure in cattle trade midweek created uncertainty as prices backed away from contract highs set early in the week. Live cattle futures led the market lower with triple-digit losses seen in all remaining 2021 contract months. Feeder cattle futures seemed to follow the market lower, but higher corn prices also had a significant part in the pullback of feeder cattle trade. Hog futures were the bright spot of the session, with strong gains returning to nearby contracts. Hog prices moved lower on the National Direct Afternoon Hog Report in moderate trade, fell $0.71 with a weighted average of $96.10 on 6,677 head. December corn is up 6 3/4 cents per bushel and December soybean meal is down $2.90 per ton. The Dow Jones Industrial Average is up 30 points and NASDAQ is up 22 points.