DTN Closing Livestock Comment 05/08 15:50
8 May 2023
DTN Closing Livestock Comment 05/08 15:50 Cattle Keep Gains Through Closing Monday It was a positive day for both the live cattle and feeder cattle contracts as the markets were able to close higher, but traders will be closely watching and waiting for more developments in the cash sector. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Traders were eager to support the cattle contracts throughout Monday's trade but unfortunately the lean hog complex didn't see the same type of technical support. But with both pork cutout values and cash hog prices closing higher, Tuesday's market may be more favorable to the hog complex. Hog prices closed higher on the Daily Direct Afternoon hog report, up $1.91 with a weighted average of $72.8 on 7,868 hogs. July corn closed steady and July soybean meal closed up $0.80 at $426.9. The Dow Jones Industrial Average is down 55.69 at 33,618.69.