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Livestock mixed on Wednesday

Livestock mixed on Wednesday

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“August cattle closed moderately higher on the session and managed to bounce to a 3-session high,” the Hightower Report said. “The discount to the cash market is providing underlying support, but traders are also nervous over the potential for increasing supply and declining demand into the heart of the summer.”

“July hogs closed moderately lower on the day and stayed inside of yesterday's range,” the Hightower Report said. “October hogs closed higher with an inside trading day. Fears that China could back away from US pork market has helped spark some selling. US pork export sales for April came in at 654.9 mln pounds, which was up 2.1% from a year ago but down from March.”

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“With the extreme overbought condition of the market, a jump in weekly average weights and a setback in pork cutout, the market looks vulnerab…

Boxed beef cutout values this afternoon were steady on Choice and lower on Select, the USDA said.

Boxed beef cutout values this afternoon were lower on Choice and Select, the USDA said.

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