DTN Closing Livestock Comment 08/13 16:03
Lean Hogs Take the Momentum as Feeder Cattle Weaken
The livestock complex closed mixed as the live cattle sector closed
phenomenally with a strong board and stronger cash cattle market; adversely the
feeder cattle complex dwindled, but lean hog contracts were able to make
positive moves through Thursday's afternoon.
DTN Livestock Analyst
Thursday's trade was uneventful after feeder cattle contracts scaled lower
and lean hog contracts got the chance to trade higher. This week's cash cattle
trade has kept with its momentum and vigor, the only unsettled piece is how/if
Northern cattle are going to trade this week. Hog prices closed lower on the
National Direct Afternoon Hog Report, down $0.17 with a weighted average of
$37.51 on 8,576 head. December corn is up 11 1/2 cents per bushel and December
soybean meal is up $8.90. The Dow Jones Industrial Average is down 80.12 points
and NASDAQ is up 30.26 points.
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