DTN Closing Livestock Comment 08/19 16:01
Higher Placements Likely Means Lower Monday for Cattle
Heading into Monday's market, both the live cattle and feeder cattle markets
will have their work cutout for them as they absorb Friday's Cattle on Feed
DTN Livestock Analyst
Friday's close came with some challenges for the livestock complex. Both the
live cattle and feeder cattle contracts will likely be challenged on Monday as
the market absorbs Friday's bearish Cattle on Feed report, and the lean hog
complex will look for support in the form of strong pork cutout values. Hog
prices closed lower on the Daily Direct Afternoon Hog Report, down $6.29 with a
weighted average of $117.80 on 4,039 head. December corn is up 7 1/2 cents per
bushel and December soybean meal is down $5.60. The Dow Jones Industrial
Average is down 292.30 points.
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