DTN Closing Livestock Comment 05/18 15:40
18 May 2023
DTN Closing Livestock Comment 05/18 15:40 Feedlots Dig in Thursday Heading into Friday, traders will be watching for any develops in the cash cattle market as well as Friday's afternoon Cattle on Feed Report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a strong day for the cattle complex as both the live cattle and feeder cattle contracts closed higher thanks to the support derived from feedlots' willingness to seek higher cash prices. A few more cattle traded in the North, but largely the week's market remains unestablished and untested. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $5.76 with a weighted average price of $78.98 on 7,256 head. July corn is down 6 1/4 cents per bushel and July soybean meal is down $11.20. The Dow Jones Industrial Average is up 115.14 points.