DTN Closing Livestock Comment 06/30 15:36
30 Jun 2023
DTN Closing Livestock Comment 06/30 15:36 Corn Plummets and Sends Cattle Back Over the Moon Both the live cattle and feeder cattle contracts closed sharply higher as higher corn plantings surprised the marketplace. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: If you feel like your little hometown is singing the National anthem next week, stronger than you've ever heard it before, you're probably not wrong as cattlemen are beaming with excitement over this market. Normally, Fridays ahead of a holiday are mundane and boring, but, this Friday, the market couldn't have been further from that, with the sharp increase in corn plantings sending cattle back over the moon! Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.04 with a weighted average price of $90.96 on 2,281 head. December corn is down 33 3/4 cents per bushel and December soybean meal is up $16.80. The Dow Jones Industrial Average is up 285.18 points.