DTN Closing Livestock Comment 05/29 16:05
29 May 2024
DTN Closing Livestock Comment 05/29 16:05 Livestock Complex Lower Wednesday Between a lack of pork demand and the disappointing announcement from China about beef imports from the JBS plant in Greely, Colorado, the livestock complex endured plenty of pressure throughout the day. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a gloomy day for the livestock complex as the entire marketplace closed lower. The biggest hitting news however was China's announcement that they will not be accepting any beef from the JBS processing plant in Greely, Colorado as traces of ractopamine were found -- which obviously had a negative effect on the cattle complex. Given that it's a holiday-shortened week, exports won't be posted on Thursday this week, but instead on Friday. Hog prices closed lower higher on the Daily Direct Afternoon Hog Report, up $1.22 with a weighted average price of $89.05 on 6,204 head. July corn is down 7 1/4 cents per bushel and July soybean meal is down $7.50. The Dow Jones Industrial Average is down 411.32 points.