DTN Closing Livestock Comment 06/27 16:02
Cattle Take Monday's Positive Momentum Through Closing
Heading into Tuesday's market, the cattle complex is hoping that the corn
market continues to trade lower and that they'll push prices higher into the
middle of the week.
DTN Livestock Analyst
The cattle contracts rallied throughout Monday's market, and feedlots
desperately hope that this stronger tone trails into the middle part of the
week and helps maintain a strong cash market. The lean hog complex veered lower
as traders seem to be looking for a better understanding of the market's
trajectory, which will hopefully come in Wednesday's report. Hog prices closed
lower on the Daily Direct Afternoon Hog Report, down $5.10 with a weighted
average of $115.13 on 4,586 head. July corn is down 6 cents per bushel and July
soybean meal is up $10.10. The Dow Jones Industrial Average is down 62.42
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