DTN Closing Livestock Comment 03/13 15:41
13 Mar 2023
DTN Closing Livestock Comment 03/13 15:41 Lower Tones Keep With Livestock Complex Through Closing Monday Tuesday will be too early for any cash cattle trade to develop, but hog producers are hoping to stronger pork cutout values. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS The livestock complex endured a painful day throughout Monday's market as traders kept their distance and let the contracts drift lower throughout most of Monday's trade. Come Tuesday, seeing strong fundamental support will be crucial, especially for the lean hog complex given that Tuesday will be too early to see if any cash cattle trade had developed. Hog prices closed lower on the Daily Direct Afternoon hog report, down $2.77 with a weighted average of $75.4 on 5,640 hogs. May corn closed down 3 3/4 at $6.135 and May soybean meal closed down $6.60 at $479.3. The Dow Jones Industrial Average is down 90.50 at 31,819.14.