DTN Closing Livestock Comment 03/20 15:29
20 Mar 2023
DTN Closing Livestock Comment 03/20 15:29 Livestock Close Lower Monday as External Pressure Mounds Heading into Tuesday's market, traders are hopeful that they'll be able to trade without outside fears about the banking systems trumping all other market factors. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was a disappointing day for the livestock complex, as early on the cattle contracts set out to trade higher but ended up closing lower alongside the lean hog contracts. Outside pressure continues to drive the contracts lower as traders struggle to trust the market's fundamentals when there are looming concerns about the U.S. banking system. Hog prices closed lower on the Daily Direct Afternoon hog report, down $1.15 with a weighted average of $76.46 on 5,522 hogs. May corn closed down 1 1/4 at $6.33 and May soybean meal closed down $3.30 at $462.7. The Dow Jones Industrial Average is up 382.60 at 32,244.58.