DTN Closing Livestock Comment 06/11 16:13
Gambling on What's Next to Come
Looking to next week, traders will be challenged to sort out the market's
trajectory, given the fundamental challenges ahead.
DTN Livestock Analyst
Friday's trade favored the cattle contracts while the lean hog contracts
were left high and dry. Looking to next week, traders will have a lot to sort
out and manage in both the hog and cattle markets. Cattle prices could be
pressured if boxed beef prices commit to trading lower, and the lean hog market
continues to wonder when a top is in store. Hog prices closed lower on the
National Direct Afternoon Hog Report, down $0.46 with a weighted average
$119.26 on 6,513 head. July corn is down 14 1/2 cents per bushel and July
soybean meal is up $1.70. The Dow Jones Industrial Average is up 13.36 points
and NASDAQ is up 49.09 points.
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