DTN Closing Livestock Comment 03/17 15:41
17 Mar 2023
DTN Closing Livestock Comment 03/17 15:41 Livestock Futures Close Mostly Lower but Cattle on Feed Report was Supportive Heading into Monday's market, cattlemen are hopeful that traders will continue to lean into the market's strong fundamentals and trade Friday's supportive Cattle on Feed report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS Friday's market closed with the same lower tones that it possessed throughout most of the week as traders are still leery about the U.S. economy and banking systems. However, cattlemen were thankful to see a supportive Cattle on Feed report shared Friday afternoon and now hope that it helps spur on stronger trade early next week. Hog prices closed lower on the Daily Direct Afternoon hog report, down $1.22 with a weighted average of $77.61 on 4,456 hogs. May corn closed up 1 1/2 at $6.343 and May soybean meal closed down $8.00 at $466. The Dow Jones Industrial Average is down 384.57 at 31,861.98.