DTN Closing Livestock Comment 07/08 16:24
Sluggish Close Through Livestock Contracts Wednesday
Livestock contracts closed Wednesday without much excitement as the industry
doesn't seem too enthused or motivated to rally quite yet.
DTN Livestock Analyst
Contracts have decided that, for the meantime, a lackluster, doggish
downward trade is where the chips need to fall. Last week's rally may rival
resistance later down the road, but, for now, contracts can't muster up
support. Cash hog prices closed $0.23 lower on the National Direct Afternoon
Hog Report, with a weighted average of $29.14 on 9,504 head. December corn is
up 1 3/4 cents per bushel and December soybean meal is down $1.30. The Dow
Jones Industrial Average is up 177.10 points and NASDAQ is up 148.61 points.
DTN offers additional daily information available free through DTN Snapshot – sign up