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DTN Closing Livestock Comment 06/12 15:22
Northern Dressed Cattle Trade Steady at $380; Southern Live Cattle $5.00
Higher at $235
Heading into Friday's market, we could see a little more trade in the fed
cash cattle market, but at this point, it's looking like the bulk of this
week's trade is done.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Although prices traded steady to $5.00 higher in the fed cash cattle market,
traders are concerned that the market is overbought and elected to let the
contracts drift lower throughout the day even though fundamental support was
ample. Throughout the day dressed cattle were traded at $380 which is steady
with last week's weighted average and some more live cattle trade developed in
the South at $235 which is $5.00 higher than last week's weighted average. July
corn is up 1 1/2 cents per bushel and July soybean meal is up $0.30. The Dow
Jones Industrial Average is up 101.85 points and the NASDAQ is up 46.60 points.
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