DTN Closing Livestock Comment 06/16 16:18
16 Jun 2022
DTN Closing Livestock Comment 06/16 16:18 Southern Cash Cattle See Another Bump in Prices Heading into Friday's market, the lean hog complex hopes that its support sticks around, and cow-calf producers hope that feeder cattle demand stays strong. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market saw another price jump as packers tallied up their purchases and had to give back into the Southern feedlots to shore up their needs. With carcass weights dwindling and showlists incredibly green, the cash cattle market could be setting itself up for a strong rally. Hog prices closed $2.52 lower on the Daily Direct Afternoon Hog Report, equating to a weighted average of $117.34 on 6,999 head. July corn is up 14 1/4 cents per bushel and July soybean meal is up $12.20. The Dow Jones Industrial Average is down 741.46 points.