DTN Closing Livestock Comment 05/11 15:38
11 May 2023
DTN Closing Livestock Comment 05/11 15:38 Gloomy Mixed Tones Summarize Thursday's Livestock Trade The livestock complex again closed mixed with only the feeder cattle contracts being able to close higher thanks to the lower end for the corn market Thursday. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was another mixed day for the livestock complex as the feeder cattle market was able to capitalize on the corn complex's weakness, but both the live cattle and lean hog markets closed lower. Cheaper cash prices drove the live cattle complex slightly lower, and the disappointing ruling of the SCOTUS with Prop 12 drove the lean hog market to close lower. Hog prices closed higher on the Daily Direct Afternoon hog report, up $0.19 with a weighted average of $77.31 on 9,730 hogs. July corn closed down 11 3/4 at $5.823 and July soybean meal closed up $11.90 at $431.4. The Dow Jones Industrial Average is down 221.82 at 33,309.51.