DTN Closing Livestock Comment 07/10 16:39
Cattle Contracts Build Into the Weekend
The livestock contracts closed Friday split as cattle contracts closed fully
higher and the lean hog complex weakened.
DTN Livestock Analyst
Heading into the weekend, cattlemen are blessed with optimism and now wait
to see where the chips will fall next week. The lean hog sector didn't close
higher Friday, but with commendable slaughter speeds the industry is flat-out
rocking and rolling to get hogs caught back up to current. Hog prices are lower
on the National Direct Afternoon Hog Report, down $0.09 with a weighted average
of $29.09 on 9,705 head. August live cattle are up $0.75 at $100., August
feeder cattle are up $1.23 at $135.75, August lean hogs are down $0.35 at
$49.875, December corn is down 12 1/4 cents per bushel and December soybean
meal is down $5.30. The Dow Jones Industrial Average is up 369.21 points and
NASDAQ is up 69.69 points.
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