DTN Closing Livestock Comment 08/17 16:02
17 Aug 2022
DTN Closing Livestock Comment 08/17 16:02 Feedlots Unwilling to Take Anything Less than Asking Price It was a big day for the livestock complex as the contracts all traded higher and the cash market remains hot for both cattle and hogs. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Feedlots are sticking to their guns this week and are going to make packers pay their full asking price in order to buy cattle. At this point, the market still hasn't really see any cattle trade, meaning that Thursday's market is going to be a firecracker once trade does start. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.15 with a weighted average of $131.34 on 24,921 head. December corn is up 1 3/4 cents per bushel and December soybean meal is up $4.50. The Dow Jones Industrial Average is down 171.69 points.