DTN Closing Livestock Comment 07/28 16:25
Can Feedlots Get Higher Prices This Week?
Heading into Thursday's trade, both the live cattle and lean hog markets
will likely be influenced by Thursday's export sales report.
DTN Livestock Analyst
It was a mixed day for the livestock complex as the live cattle market
aspired to trade fully higher, but the cash cattle market's lack of commitment
waned on its rally. The feeder cattle contracts grew skeptical as the corn
market flirted with higher prices and as the live cattle market couldn't signal
full-throated support. And the lean hog complex had the toughest day as the
market's deferred contracts continue to worry about long-term demand. Hog
prices closed lower on the National Direct Afternoon Hog Report, down $1.74
with a weighted average of $103.80 on 7,936 head. December corn is up 2 3/4
cents per bushel, and December soybean meal is down $3.10. The Dow Jones
Industrial Average is down 127.59 points, and the NASDAQ is up 102 points.
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