DTN Closing Livestock Comment 06/16 15:38
16 Jun 2023
DTN Closing Livestock Comment 06/16 15:38 Cattle Close Higher Despite Witnessing Corn Prices Up Sharply Packers may have been able to back the cash cattle market down $3.00 to $5.00 this past week, but they aren't so flush on cattle that they could step away from the market completely. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex was anything but boring to watch as the cattle contracts remained strong throughout the day despite seeing corn prices jump sharply higher. Some trade was finally reported in the South midday on Friday, and prices were marked at mostly $182 which is $3.00 lower than last week's weighted average. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $8.15 with a weighted average price of $85.17 on 1,564 head. July corn is up 17 cents per bushel and July soybean meal is up $22.20. The Dow Jones Industrial Average is down 107.03 points.