DTN Closing Livestock Comment 05/22 15:49
22 May 2023
DTN Closing Livestock Comment 05/22 15:49 Higher Corn Prices Kept Most Livestock Contracts Lower Monday Heading into Tuesday, all eyes will again be on the corn complex to see what prices do. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Overall, it was an uneventful day for the livestock complex. Higher corn prices drove both the live cattle and lean hog markets lower, but phenomenal demand allowed for the feeder cattle contracts to still close higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.91 with a weighted average of $76.52 on 3,488 head. July corn is up 16 1/2 cents per bushel and July soybean meal is up $3.10. The Dow Jones Industrial Average is down 140.05 points.