DTN Closing Livestock Comment 08/08 16:11
Feeders Hustle Monday's Market While Corn Went Lower
Heading into Tuesday's market, so much of the livestock complex's direction
will likely depend on how corn trades.
DTN Livestock Analyst
It was a powerful day for the livestock complex, but an extremely good day
for the feeder cattle market. As corn prices trended lower throughout the day,
the contracts all celebrated the notion of lower feed costs. Hog prices closed
$1.59 lower on the Daily Direct Afternoon Hog Report, equating to a weighted
average of $122.84 on 6,700 head. December corn is down 2 3/4 cents per bushel
and December soybean meal is down $6.00. The Dow Jones Industrial Average is up
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