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DTN Closing Livestock Comment 05/25 15:38

25 May 2023
DTN Closing Livestock Comment 05/25 15:38 June and August Live Cattle Contracts Score New Contract Highs It was a rallying day for both the live cattle and feeder cattle contracts as the market continues to be inspired by rallying cash cattle prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle contracts rallied throughout Thursday's market as success in the cash sector has invigorated traders. Meanwhile, the lean hog complex continues to flounder as it looks for support and for a market bottom. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.73 with a weighted average price of $79.46 on 7,796 head. July corn is up 3 1/2 cents per bushel and July soybean meal is down $5.00. The Dow Jones Industrial Average is down 41.05 points.