DTN Closing Livestock Comment 07/14 16:15
Reminded of Bearish Truths
Cattle contracts closed fully lower, but the lean hog complex was able to
safeguard some positivity in the deferred contracts.
DTN Livestock Analyst
The livestock complex closed mostly lower as all three markets felt immense
nearby pressure and were reminded of the uphill battle that the market will
most likely endure through potentially the rest of the year. Hog prices closed
higher on the National Direct Afternoon Hog Report, up $0.63 with a weighted
average of $31.08 on 9,356 head. December corn is down 2 3/4 cents per bushel
and December soybean meal is up $0.60. The Dow Jones Industrial Average is up
556.79 points and NASDAQ is up 97.74 points.
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