DTN Closing Livestock Comment 03/23 15:42
23 Mar 2023
DTN Closing Livestock Comment 03/23 15:42 Cautious Tones Continue to Hobble the Livestock Markets The livestock complex closed mostly lower as traders continue to keep an arm's length distance from the contracts amid the U.S. banking uncertainty. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was a lackluster day for the livestock complex as the futures complex didn't seem to care that the market received supportive export news and opted to close lower regardless. The feeder cattle contracts were the only livestock market to see mild support as corn prices closed lower and which allowed feeders to rally mildly. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.92 with a weighted average of $76.71 on 7,250 hogs. May corn closed down 1 3/4 at $6.318 and May soybean meal closed down $13.30 at $438.3. The Dow Jones Industrial Average is up 75.14 at 32,105.25.