DTN Closing Livestock Comment 07/19 16:08
Beef Futures Surge Back to Upper End of Trading Range
The cattle complex staged an aggressive recovery at midweek, closing with
triple-digit gains thanks to short-covering and technical buying. Lean hog
issues also settled higher, though significant price progress was limited to
By John Harrington
DTN Livestock Analyst
Light to moderate cash cattle trading surfaced in parts of the North with
dressed prices ranging from $188 to $190 (mostly $188, $2 lower than last
week's weighted average basis Nebraska). According to the closing report, the
national hog base is .77 lower ($80.00-85.75, weighted average $84.79). At the
conclusion of another very choppy session, corn futures closed a nickel-plus
higher, supported by hot temps and some pollination worries. The stock market
closed higher with the Dow up 66 points and the Nasdaq better by 40.
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