DTN Closing Livestock Comment 05/13 16:00
13 May 2022
DTN Closing Livestock Comment 05/13 16:00 Live Cattle Remain Skeptical Through Friday Heading into Monday, feeder cattle will closely watch corn prices and feedlots will be anxious to see exactly how many cattle traded this week. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Friday was recovering day for the lean hog and feeder cattle contracts, but the live cattle market wasn't easily persuaded into thinking the same. The live cattle market has grown concerned about the market's wavering tone of beef demand as feedlots sit with record numbers on feed and the summer low has yet to be established. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.89 with a weighted average of $101.47 on 2,867 head. July corn is down 10 1/4 cents per bushel and July soybean meal is up $13.30. The Dow Jones Industrial Average is up 466.36 points.