DTN Closing Livestock Comment 02/28 15:42
28 Feb 2023
DTN Closing Livestock Comment 02/28 15:42 Cheap Corn Prices Continues to Drive Cattle Higher Tuesday presented another mixed bag for the livestock complex. The cattle contracts rallied as the nearby corn contracts closed $0.11 to $0.13 lower, but the lean hog market continues to yearn for demand. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was another mixed day for the livestock complex. The cattle contracts celebrated the corn market's continued weakness, while the lean hog market continued to look for support, which it largely never found. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.11 with a weighted average of $77.91 on 15,122 head. May corn is down 13 1/4 cents per bushel and May soybean meal is down $14.70. The Dow Jones Industrial Average is down 232.39 points.