DTN Closing Livestock Comment 06/28 16:11
Hog Market Ready for Wednesday's Quarterly Hogs and Pigs Report
Heading into Wednesday's market, hog producers are anxious to see how the
quarterly report treats them, and cattle producers are going to be fixated on
the cash market.
DTN Livestock Analyst
It was a lower waning day for the livestock complex as the live cattle,
feeder cattle and lean hog contracts all saw lower closes on the day. Wednesday
afternoon's Quarterly Hogs and Pigs report is going to be highly sought after
and it's expected to shape the market's nearby trend. Cash cattle business
should begin to develop by midmorning Wednesday and prices could be higher. Hog
prices closed higher on the Daily Direct Afternoon Hog Report, up $4.65 with a
weighted average of $119.78 on 8,752 head. July corn is up 15 1/4 cents per
bushel and July soybean meal is up $12.40. The Dow Jones Industrial Average is
down 491.27 points.
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