DTN Closing Livestock Comment 06/08 16:14
8 Jun 2022
DTN Closing Livestock Comment 06/08 16:14 Cattle Bolt Higher Wednesday It was an extremely good day for the cattle market Wednesday, as support from the futures market complimented the cash market's ambitions and both sides of the market ended up closing higher on the day. July corn closed up 7 1/2 cents per bushel, and July soybeans closed up 11 3/4 cents. The Dow Jones Industrial Average is down 269.24 points. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle market surpassed all expectations and had a robust day where the futures market traded $2 to $3 higher in the live cattle complex, and cash cattle traded anywhere from $1 to $4 higher. The dynamic trade that spurred the live cattle market higher spilled over into the feeder cattle market and pushed its contracts higher and invigorated buyers in sale barns. The lean hog market wasn't as fortunate, and with pork cutout values closing over $3 lower, the board erred on the side of caution and closed lower. Hog prices closed $0.43 higher on the Daily Direct Afternoon Hog Report, with a weighted average of $117.28 on 9,758 head.