DTN Closing Livestock Comment 07/11 16:09
11 Jul 2022
DTN Closing Livestock Comment 07/11 16:09 Cattle Take Monday Higher While Hogs Back Away from Pressure The live cattle and feeder cattle contracts grew stronger as the day traded on, but the lean hogs complex wasn't able to take on the market's resistance at $110. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Even with the corn complex trending higher throughout Monday's market, the live cattle and feeder cattle contracts ran into Monday's trade aggressively. If the cattle contracts can sustain this type of energy throughout the rest of the week, the market could be looking at a powerful week where the market's trend changes. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.47 with a weighted average of $117.25 on 6,607 head. December corn is up 5 1/2 cents per bushel and December soybean meal is down $2.80. The Dow Jones Industrial Average is down 164.31 points.