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Printable Page Livestock   Return to Menu - Page 1 2 3 4 5 7 8 10 11 12 13
 
 
DTN Closing Livestock Comment 07/30 15:50
   Meat Futures Swing Hard in Opposite Directions

   Lean hog contracts closed sharply lower, pressured by eroding cash values
and disappointing pork demand. On the other hand, the cattle complex settled
with significant gains, supported by strong beef demand and ongoing cash
optimism.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   The cash cattle market remained dead in the water. Indeed, opening bids were
not evident in the face of higher asking prices (i.e. $168 to $170 in the South
and $265 to $270 in the North). Trade is expected to develop on Thursday or
Friday. According to the closing report, the Iowa hog base is 0.92 lower
compared with the Prior Day settlement ($118.00-$123.00, weighted average
$121.12). Corn futures closed fractionally higher, up 1/4 in the September and
up 1/2 in the December and March.
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