DTN Closing Livestock Comment 03/22 15:38
22 Mar 2024
DTN Closing Livestock Comment 03/22 15:38 Cattle Drop Ahead of Friday's End The Cattle on Feed report had traders nervous ahead of Friday's close, leading to a sharp decline in both live cattle and feeder cattle markets. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a tough day for the cattle complex as traders braced themselves for the afternoon's Cattle on Feed (COF) report, but the lean hog complex did finally find some support ahead of Friday's end. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1 with a weighted average price of $79.30 on 3,553 head. May corn is down 1 1/2 cents per bushel and May soybean meal is down $5.20. The Dow Jones Industrial Average is down 305.47 points.