DTN Closing Livestock Comment 06/21 15:54
21 Jun 2023
DTN Closing Livestock Comment 06/21 15:54 Higher Corn Prices Sends Most Livestock Contracts Lower With nearby corn contracts rallying $0.27 to $0.30 higher, it was hard for the livestock industry to focus on anything else. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Higher corn prices were on the forefront of everyone's mind Wednesday and ultimately led to the lower close seen throughout most of the livestock contracts. The cash cattle market remains mostly untested with bids being offered but feedlots continuing to pass on their current price point. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.78 with a weighted average of $96.34 on 11,821 head. December corn is up 31 1/4 cents per bushel and July soybean meal is up $26.40. The Dow Jones Industrial Average is down 102.35 points.