DTN Closing Livestock Comment 08/24 16:09
24 Aug 2022
DTN Closing Livestock Comment 08/24 16:09 Nearby Feeder Cattle Contracts Close Higher Amid Elevated Corn Prices Hog producers will look to Thursday's export report eagerly and hope to see a big shipment as moving product could ease the market's stress. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a mostly lower trending day for the livestock complex as both the live cattle and lean hog markets closed fully lower Wednesday, but the feeder cattle market saw its nearby contracts round out the day green. Nevertheless, both the hog and beef markets would be elated to see a strong export report early Thursday morning. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.62 with a weighted average of $125.50 on 20,613 head. December corn is up 2 cents per bushel and December soybean meal is up $2.10. The Dow Jones Industrial Average is up 59.64 points.