DTN Closing Livestock Comment 06/21 16:07
Feeder Cattle Triumph Amid Weaker Corn
Heading into Tuesday's trade, the feeder cattle contracts hope that the corn
market's deterioration continues.
DTN Livestock Analyst
The feeder cattle contracts had to keep a close eye on the corn market's
behavior Monday, but as the day neared its end, traders grew cold of the corn
market, which ultimately allowed for feeders to close higher. Meanwhile, both
the live cattle and lean hog contracts closed lower as neither of the contracts
could attract substantial support. Hog prices closed higher on the National
Direct Afternoon Hog Report, up $0.95 with a weighted average of $123.57 on
7,897 head. July corn is up 4 cents per bushel and July soybean meal is down
$0.30. The Dow Jones Industrial Average is up 586.89 points and NASDAQ is up
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