DTN Closing Livestock Comment 05/22 15:20
22 May 2024
DTN Closing Livestock Comment 05/22 15:20 Feeder Cattle Complex Momentum Drives the Cattle Sector Higher Heading into Thursday's market be on the lookout for any developments in the cash cattle market and for the morning's export report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a mixed day for the livestock complex as the cattle contracts saw ample trader support, but the lean hog market continues to plunder lower as pork demand is lacking. No cash cattle trade has developed yet but packer interest could improve on Thursday. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.37 with a weighted average price of $87.82 on 3,665 head. July corn is up 3 1/4 cents per bushel and July soybean meal is up $5.90. The Dow Jones Industrial Average is down 231.53 points.