DTN Closing Livestock Comment 06/30 16:05
30 Jun 2022
DTN Closing Livestock Comment 06/30 16:05 Feeder Cattle Market Shoots Higher on Cheaper Corn and Strong Sales It was a charging day for the feeder cattle market as technical support developed thanks to the corn market's regression and fundamental support complemented the day's move, as buyers have been extremely aggressive in sale barns this past week. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Thursday ended up being a mixed day for the livestock complex as the feeder cattle market charged higher and helped aid on higher trade throughout the live cattle contracts, but the lean hog market couldn't shake the fact that processing speeds have been lagging and demand hit and miss from consumers. Hog prices closed $2.27 lower on the Daily Direct Afternoon Hog Report, equating to a weighted average of $118.91 on 6,604 head. December corn is down 34 cents per bushel and December soybean meal is down $0.30. The Dow Jones Industrial Average is down 253.88 points.