DTN Closing Livestock Comment 06/18 16:00
Finally, the Week the Cattle Complex Needed
Heading into next week's trade, the cash cattle market prays that bids will
come steady, if not higher, and the feeder cattle contracts hope to find weaker
corn prices once again.
DTN Livestock Analyst
It was a long week, but it was a good week for the cattle contracts! With
both the live cattle market and feeder cattle market finding support and being
able to trade higher throughout most of the week, the complex rallied support
that's been absent from the market for quite some time. Hog prices closed
higher on the National Direct Afternoon Hog Report, up $0.34 with a weighted
average of $122.62 on 3,961 head. July corn is up 22 1/4 cents per bushel and
July soybean meal is up $11.90. The Dow Jones Industrial Average is down 468.82
points and NASDAQ is down 106.02 points.
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