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DTN Closing Livestock Comment 05/04 15:30

4 May 2021
DTN Closing Livestock Comment 05/04 15:30 Cattle, Feeders Sink to New Lows as Corn Heats Up Rising corn prices continue to pressure both live cattle and feeder cattle lower Tuesday. Lean hogs held firm with back months continuing to achieve new highs. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: Early hopes for higher cattle prices in 2021 have taken a bearish turn the past month, hit by rising corn prices and a lethargic packer response to higher boxed beef prices. Tuesday's trade saw futures contracts of live cattle and feeders fall to new lows. July corn closed up 17 1/4 cents at $6.96 3/4 per bushel and July soybean meal closed up $6.40. The Dow Jones Industrial Average is trading up 19.80 points.