DTN Livestock Close: Weaker Corn Favors Cattle Contracts

It was another good day for the cattle contracts as the bearish demeanor in the corn market allowed for both the live cattle and feeder cattle contracts to close higher.

GENERAL COMMENTS:

The cattle contracts relished Wednesday’s weaker corn trade and were able to victor another day and close mostly higher. The cash cattle market seems to be reluctant to throw in the towel this week and has its eye on higher trade as the market still needs to see more cattle trade this week.

Hog prices closed lower on the National Direct Afternoon Hog Report, down $1.67 with a weighted average of $115.73 on 11,313 head.

July corn is down 7 1/2 cents per bushel and July soybean meal is up $1.80. The Dow Jones Industrial Average is down 681.50 points and NASDAQ is down 357.75 points.

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