DTN Closing Livestock Comment 05/15 16:22
15 May 2020
DTN Closing Livestock Comment 05/15 16:22 Cash Cattle Prices Shoot Higher Friday Packers jumped cash cattle bids Friday afternoon, which pushed cattle contracts higher and left the week rallying into the weekend. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The board fought with itself as traders were cautious with how high the market should go. Meanwhile, the cash cattle market was dead set on trading higher this week. The lean hog complex may not have seemed to have a good week, but given the aggression packers have had on processing,the number of hogs they have moved is commendable. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.05 with a weighted average of $37.11 on 10,255 head. July corn is up 1 3/4 cents per bushel and July soybean meal is down $0.70. The Dow Jones Industrial Average is up 60.08 points and NASDAQ is up 70.84 points.