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DTN Closing Livestock Comment 06/12 15:45
Cattle Close Lower and Cash Sales Remain Slow to Develop
Only a handful of live cash cattle sales have developed, and there's yet to
be any dressed cattle trade.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex ended the day mixed once again, with the cattle
contracts fearing resistance while the lean hog contracts finally found some
technical support. Only a handful of cattle sales have developed in the cash
market, where live sales are being marked at $255, which is $1.00 lower than
last week's weighted average. July corn is up 1 cent per bushel and July
soybean meal is down $0.40. The Dow Jones Industrial Average is up 353.51
points and the NASDAQ is up 79.18 points.
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