DTN Closing Livestock Comment 05/06 16:01
6 May 2022
DTN Closing Livestock Comment 05/06 16:01 Live Cattle Face Pushback Heading into Monday's market, feedlots are anxious to see how many more cattle packers bought with time. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Friday's market came as a mixed bag for the livestock sector. Feeder cattle took the opportunity to rally amid a lower trending corn market, but the live cattle sector couldn't muster any support as traders let the contracts venture lower and the cash market couldn't entice any more bids. Meanwhile the lean hog market stood little chance of trading higher as the day's biggest headline was that African swine fever had been confirmed in Rome. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.59 with a weighted average of $101.98 on 4,896 head. July corn is down 12 3/4 cents per bushel and July soybean meal is down $6.30. The Dow Jones Industrial Average is down 98.60 points.