DTN Closing Livestock Comment 07/16 15:42

DTN Closing Livestock Comment 07/16 15:42
   Uptrends Remain in Place for Livestock Markets

   Cattle prices were somewhat lower across the board Tuesday, with the
front-month August live contact down $0.275, and steeper losses in feeders:
down $0.75 in the October contract. Deferred lean hog contracts enjoyed another
up day.

By Elaine Kub
DTN Contributing Analyst



   GENERAL COMMENTS: Through the quiet start of the week, sellers have kept
their offers (around $114 in the South and $187 plus in the North) firm above
last week's prices: $113 live and $182 dressed. No significant trade volume has
been noted yet, and not even a token bid was floated Tuesday. According to the
closing report, the national hog base was $0.75 higher ($57-$72, weighted
average $69.36). Corn futures closed 5 3/4 cents lower alongside steeper losses
in the soy complex (soybean meal down $3.50 per ton). The stock market dropped
10 points in the S&P 500, but the index remains above 3,000.

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