DTN Closing Livestock Comment 06/05 15:41
5 Jun 2023
DTN Closing Livestock Comment 06/05 15:41 Cheaper Corn Drivers Cattle Higher Monday Both the live cattle and feeder cattle contracts rallied throughout Monday's trade as weaker corn prices helped traders keep with their upward rally. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was another rallying day for the livestock complex as the contracts closed mostly higher. Both the live cattle and feeder cattle markets closed fully higher, but the nearby lean hog contracts struggled slightly. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $3.53 with a weighted average price of $85.29 on 7,205 head. July corn is down 11 1/2 cents per bushel and July soybean meal is up $3.40. The Dow Jones Industrial Average is down 199.90 points.