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DTN Closing Livestock Comment 07/11 15:39
Fed Cash Cattle Prices Helped Drive Futures Contracts Higher on Friday
Throughout the day, Northern dressed cattle traded at $380, which is $10.00
higher than last week's weighted average. Southern live cattle traded at $228
to $230, which is $4.00 to $6.00 higher than last week's weighted average.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was an incredible week for the cattle complex as feeder cattle demand
remains red hot, fed cash cattle prices jump higher, and traders were willing
and ready to respond to the market's strong fundamentals. July corn is down 4
1/4 cents per bushel and July soybean meal is down $0.90. The Dow Jones
Industrial Average is down 279.13 points and the NASDAQ is down 45.13 points.
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