DTN Closing Livestock Comment 07/18 16:10
Cattle Pressure Develops Thursday
Limited buying in cattle trade Thursday allowed for underlying weakness
through the complex. Feeder cattle led the complex lower. Hog futures posted
moderate gains in most contracts as traders offset initial losses.
By Rick Kment
Active pressure developed in feeder cattle trade for the second straight
session as traders steadily back away from recent highs. This underlying
weakness sparked uncertainty in live cattle trade late Thursday. Mixed hog
trade developed late Thursday, although the bounce off session lows focuses on
underlying support in the complex. Corn futures posted active losses. September
futures is 11 cents per bushel lower. Dow Jones Index is 2 points higher with
Nasdaq up 22 points.
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