DTN Closing Livestock Comment 05/24 15:50
24 May 2024
DTN Closing Livestock Comment 05/24 15:50 Feedlots Continue to Hold Out for Higher Prices Cash cattle bids have been on the table all day, but feedlots remain committed to receiving higher prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle complex pulled back ahead of Friday's close in preparation for the afternoon's Cattle on Feed report, but thankfully no bearish surprises were found there, and the market should be able to rally on its strong fundamentals again early next week. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.63 with a weighted average price of $86.64 on 1,317 head. July corn is up 3/4 cent per bushel and July soybean meal is up $9.80. The Dow Jones Industrial Average is up 4.33 points.