DTN Closing Livestock Comment 05/16 15:51
16 May 2024
DTN Closing Livestock Comment 05/16 15:51 Feedlots Aim for Higher Cash Prices Friday's market should be worth watching as cash cattle prices could trade higher and so long as beef demand remains evident in the market, the futures complex stands a chance of continuing its higher trend too. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex rallied throughout Thursday's trade and all three of the markets closed higher. Still no cash cattle trade has developed, which means that Friday's market could be in for some excitement as feedlots seem determined to get their showlists marketed at higher prices. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.40 with a weighted average price of $89.36 on 1,109 head. July corn is down 5 1/2 cents per bushel and July soybean meal is down $4.00. The Dow Jones Industrial Average is down 38.62 points.