DTN Closing Livestock Comment 05/09 15:33
9 May 2023
DTN Closing Livestock Comment 05/09 15:33 Cheaper Corn Helps Drive Livestock Contracts Higher Heading into Wednesday's market, cattlemen will be eyeing any developments in the cash cattle sector, along with tracking corn prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Tuesday ended up being a positive day for the livestock complex as all three of the markets closed higher. No cash cattle trade developed, but as feedlots seek out steady prices, they know they're going to be faced with opposition from packers. Hog prices closed higher on the Daily Direct Afternoon hog report, up $0.79 with a weighted average of $73.59 on 6,363 hogs. July corn closed down 11 3/4 at $5.848 and July soybean meal closed down $7.90 at $419.00. The Dow Jones Industrial Average is down 56.55 at 33,562.14.