DTN Closing Livestock Comment 07/01 15:30
USDA's Announcement About the Border Reopening Rattled the Cattle Complex
The cattle complex was fixated on one thing only today -- the reopening of
the US-Mexican border and if that will soften feeder cattle prices.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was a lackluster day for the livestock complex as most of the contracts
closed lower from a lack of fundamental support, and the cattle contracts
closed significantly lower thanks to the USDA's announcement that the border
will reopen to Mexican cattle imports. No cash cattle trade developed
throughout the day. July corn is down 1/2 cent per bushel and July soybean meal
is down $2.10. The Dow Jones Industrial Average is up 400.17 points and the
NASDAQ is down 166.84 points.
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