DTN Closing Livestock Comment 07/29 16:02
Hogs Perk Back Up From Wednesday's Losses
Heading into Friday's trade, the cash cattle market would like to see more
cattle trade and the market knows that its desire for fully higher prices is
likely not going to be granted.
DTN Livestock Analyst
It was a mixed day throughout the livestock complex as cattle closed lower
upon higher corn prices and another week of disappointing cash cattle trade.
Meanwhile, the lean hog market doesn't like the fact that African swine fever
is creeping closer to our homeland, but the market was able to regain what
Wednesday threw away in a panic-struck mindset. Hog prices closed lower on the
National Direct Afternoon Hog Report, down $1.22 with a weighted average of
$102.58 on 3,660 head. December corn is up 7 1/2 cents per bushel and December
soybean meal is up $1.30. The Dow Jones Industrial Average is up 153.60 points
and NASDAQ is up 15.68 points.
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