DTN Closing Livestock Comment 05/17 15:53
17 May 2023
DTN Closing Livestock Comment 05/17 15:53 Feedlots Hold Out for Better Bids Come Thursday, all eyes will be quick to look for the day's export data and then will closely monitor any developments in the cash market. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex didn't improve much since the noon hour, as mostly the contracts closed lower. The only slight improvement came from the nearby live cattle contracts as traders took note that feedlots are mostly holding out for better money which could come Thursday. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.95 with a weighted average of $84.74 on 16,180 head. July corn is down 19 3/4 cents per bushel and July soybean meal is down $1.60. The Dow Jones Industrial Average is up 408.63 points.