DTN Closing Livestock Comment 06/24 16:17

DTN Closing Livestock Comment 06/24 16:17
   Cattle Pick Up Modest Support While Hogs Break Lower

   Heading into Friday's market, cattlemen are praying that corn continues to
wane lower and that the market sees a substantial movement of fat cattle come
Friday.

ShayLe Stewart
DTN Livestock Analyst

   GENERAL COMMENTS:

   The feeder cattle sector once again closed higher amid a mostly lower
trending corn market, while the live cattle complex barely closed higher,
seeming to just absorb some of the momentum from the feeder cattle market. Hog
prices closed lower on the National Direct Afternoon Hog Report, down $6.60
with a weighted average of $116.18 on 6,746 head. July corn is down 11 cents
per bushel and July soybean meal is down $8.40. The Dow Jones Industrial
Average is up 322.65 points and NASDAQ is up 97.98 points.

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