DTN Closing Livestock Comment 02/23 16:20
23 Feb 2023
DTN Closing Livestock Comment 02/23 16:20 Cheaper Corn Sends Cattle Higher Friday will be a busy day for the market as more cash cattle trade should develop, and the newest Cattle on Feed report will be released. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was a dynamic day for the cattle complex as the corn market's deterioration helped propel both the live cattle and feeder cattle contracts higher. And, even though the lean hog complex saw mixed support through closing, a near $3.00 gain in pork cutout values should help the market's more come Friday. Weekly export data will be released Friday morning, and Friday afternoon the newest Cattle on Feed report will be unveiled. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.27 with a weighted average of $77.53 on 6,182 head. March corn is down 13 3/4 cents per bushel and May soybean meal is up $0.50. The Dow Jones Industrial Average is up 145.07 points.