DTN Closing Livestock Comment 05/10 15:43
10 May 2024
DTN Closing Livestock Comment 05/10 15:43 Steady Cash Cattle Trade Keeps the Live Cattle Contracts Higher It was a busy day for the livestock complex as both the live cattle and lean hog contracts rounded out the day higher, but the feeder cattle contracts didn't receive the same support. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Boxed beef demand never substantiated like the market had hoped, but thanks to a steady trading cash cattle complex, traders allowed the live cattle complex to close higher. The feeder cattle complex closed mixed with the summer 2024 contracts trending lower, but the lean hog market closed higher as afternoon pork cutout values closed higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.94 with a weighted average price of $88.41 on 3,116 head. July corn is up 13 1/4 cents per bushel and July soybean meal is down $1.00. The Dow Jones Industrial Average is up 125.08 points.