DTN Closing Livestock Comment 08/06 15:38
Traders Yearn for More Fundamental Support
Cash cattle trade developed throughout the afternoon with live cattle
trading at $235 and dressed cattle trading at $370.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock contracts ended the day lower as traders were concerned
whether or not the market possessed enough fundamental support to confidently
move higher. Cash cattle trade developed throughout the afternoon at $235,
which is $2.00 higher than last week's weighted average. December corn is up 2
cents per bushel and December soybean meal is up $1.00. The Dow Jones
Industrial Average is down 464.02 points and the NASDAQ is down 15.09 points.
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