DTN Closing Livestock Comment 03/21 15:48
21 Mar 2023
DTN Closing Livestock Comment 03/21 15:48 Cattle Close Higher Tuesday It was a gamble guessing whether or not traders would keep the cattle contracts higher through closing, but by Tuesday's end, cattlemen were elated to see higher closes in most of the live cattle and feeder cattle contracts. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It's almost as refreshing to see the cattle contracts trade higher as it is to know that we are officially into the spring season. The big question now will be whether traders decide to continue to focus on the market's fundamentals or if they'll be torn to potentially fall back and trade the fear-mongering unknowingness of the U.S. banking system. Hog prices closed higher on the Daily Direct Afternoon hog report, up $1.60 with a weighted average of $78.06 on 14,682 hogs. May corn closed down 3 at $6.3 and May soybean meal closed down $2.10 at $460.6. The Dow Jones Industrial Average is up 316.02 at 32,560.60.