DTN Closing Livestock Comment 07/02 16:19
   Livestock Futures Close Lower Once Again

    Livestock Futures pulled back from early-day gains, although limited
long-term direction still developed across cattle and lean hog markets. The
upcoming holiday break will likely keep markets subdued through the end of the
week.

For the Week ending: 7/2/26
From Friday to Thursday, livestock futures scored the following changes: August
Live cattle off $18.18, October Live cattle off $6.32; August Feeder cattle off
$12.68, September Feeder cattle off $12.90; July Lean hogs up $1.15, August
Lean hogs up $2.15; July Pork cutout off $0.00, August Pork cutout off $0.00.



Rick Kment
DTN Analyst

GENERAL COMMENTS:

   Livestock futures have remained lightly traded through the entire week,
which is not unusual for a Fourth of July Holiday week. With markets closed
Friday in celebration of Independence Day, traders are focusing on trade early
next week. It is expected that the overall volume should return to a more
normal routine. But the uncertainty of whether this will bring aggressive buyer
support back to the livestock market, especially the cattle complex, may keep
many traders hesitant to actively step back into the market. Nearby live cattle
and feeder cattle posted sharp double-digit losses for the week, focusing on
the demand side of the market during the last half of the summer and fall
months. Lean hog futures posted strong late-week gains, but most of this
support is likely due to previous market pressure and end-of-the-week short
covering rather than changing market conditions. Hog prices closed lower on the
Daily Direct Afternoon hog report, down $1.45 with a weighted average of $95.47
on 916 hogs. December corn closed down 3/4 at $4.415 and December soybean meal
closed down $0.30 at $304.4. The Dow Jones Industrial Average is up 594.83 at
52,900.07.