DTN Closing Livestock Comment 08/06 16:10
Board Scales Lower, Cash Cattle Higher
Thursday turned contracts lower, but the cash cattle market wasn't affected.
DTN Livestock Analyst
Livestock contracts turned lower as Thursday evolved, feeling less and less
confident that the market's recent gains will continue. Heading into Friday,
the market will be heavily watching cash cattle trade. Hog prices closed lower
on the National Direct Afternoon Hog Report, down $0.54 with a weighted average
of $37.99 on 10,784 head. December corn is up 1/2 cent per bushel and December
soybean meal is down $1.80. The Dow Jones Industrial Average is up 185.46
points and NASDAQ is up 109.67 points.
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