DTN Closing Livestock Comment 05/31 15:33
Livestock Complex Continues to Trade Higher
The livestock complex again closed higher with weaker corn prices being the
market's largest contributing factor.
DTN Livestock Analyst
It was another gangbuster day for the livestock complex as deteriorating
corn prices give the market even more incentive to trade higher. No substantial
cash cattle trade developed, but trade will likely begin to take place on
Thursday as packers won't be able to sit this week's market out entirely. Hog
prices closed higher on the Daily Direct Afternoon Hog Report, up $11.47 with a
weighted average of $86.62 on 22,741 head. July corn is steady and July soybean
meal is steady. The Dow Jones Industrial Average is down 124.99 points.
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.