DTN Closing Livestock Comment 05/20 15:50
20 May 2024
DTN Closing Livestock Comment 05/20 15:50 Higher Corn Prices Grab the Cattle Market's Attention on Monday Heading into Tuesday's trade traders will continue to look for consumer demand and monitor corn prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Higher corn prices kept the cattle contracts from rallying unbridled throughout Monday's trade, but if the market's fundamentals shine like they did last week -- higher trade will likely be in play for the later part of the week. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.14 with a weighted average price of $86.43 on 2,002 head. July corn is up 8 cents per bushel and July soybean meal is up $5.30. The Dow Jones Industrial Average is down 196.82 points.