DTN Livestock Close: Midweek Gains Stabilize

©Debra L Ferguson Stock Photography

Wide market shifts developed in nearby futures with firm losses of $1 per cwt developing in live cattle futures while moderate to strong support moved into lean hog futures.

GENERAL COMMENTS:

Hog futures bounced higher in limited support as August futures led the complex higher based on trade talk next week with China. Any glimmer of hope of trade progress seems to get nearby contracts fired up. Cattle futures shifted lower as traders backed away from early week gains, although no additional direction developed within the current sideways trading range.

Corn futures continued lower Wednesday. July futures is 8 3/4 cents per bushel lower. Dow Jones Index is 69 points higher with Nasdaq up 25 points.

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