DTN Closing Livestock Comment 07/07 16:15
Livestock Contracts Slowed Their Forward Motion, Closed Lower
Livestock contracts regressed and were unable to muster up the support
needed to keep the upward motion.
DTN Livestock Analyst
Livestock contracts weren't as audacious about trading higher Tuesday as
they were later last week and sequentially closed lower in all three markets.
On a brighter note, both cash markets closed higher. Cash hog prices closed
$0.76 higher on the National Direct Afternoon Hog Report, with a weighted
average of $29.29 on 12,323 head. December corn is down 3 3/4 cents per bushel
and December soybean meal is down $2.90. The Dow Jones Industrial Average is
down 396.85 points and NASDAQ is down 89.76 points.
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