DTN Closing Livestock Comment 05/18 16:11
Cattle Futures Wither Away in Wednesday's Market
It was a tough day for the cattle contracts, but the lean hog market was
able to defend its price points as, fundamentally, the market is completely
DTN Livestock Analyst
As the stock market gave way to the market's pressures, the live cattle and
feeder cattle markets jumped on board and road the ship lower. Meanwhile, the
lean hog complex was able to rely on its strong fundamentals and keep its
complex trading green despite the rest of the market's weakness. Hog prices
closed higher on the Daily Direct Afternoon Hog Report, up $0.31 with a
weighted average of $111.69 on 15,581 head. July corn is down 19 1/4 cents per
bushel and July soybeans closed 15 1/4 cents lower. The Dow Jones Industrial
Average is down 1,164.52 points.
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