DTN Closing Livestock Comment 08/04 16:14
Cattle Leery; Lean Hogs Trapped in Sideways Trade
The later part of the week has plenty to sort out after Tuesday.
DTN Livestock Analyst
Tuesday's close leaves Wednesday with a lot of unknowns to sort out. A
stronger tone is set for cash cattle trade, but how much stronger will the
week's averages line out to be? Is the feeder cattle complex rethinking its
aggression or did the day's trade simply allow for a rest before continuing
with upward strength? Hog prices are unavailable on the National Direct
Afternoon Hog Report due to packer submission problems. October lean hogs are
up $0.63 at $49.025, December corn is down 8 1/4 cents per bushel and December
soybean meal is down $4.30. The Dow Jones Industrial Average is up 164.07
points and NASDAQ is up 38.36 points.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up