DTN Closing Livestock Comment 04/23 16:17
23 Apr 2021
DTN Closing Livestock Comment 04/23 16:17 High Corn and Depressed Cattle Summarize the Week Cattle contracts are thankful to see Friday's higher close after a taxing week of higher input prices and lower cash prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: To say that this past week was anything less than exhausting and painfully brutal for the cattle contracts would simply be untrue. The sharp spike in corn prices sent the feeder cattle complex crashing lower, and the live cattle market ended up absorbing the market's negative morale as well. Meanwhile, the lean hog contracts continued to rally most of the week as demand continues to support prices. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.89 with a weighted average of $108.19 on 3,120 head. May corn is up 5 cents per bushel and July soybean meal is up $0.50. The Dow Jones Industrial Average is up 227.59 points and NASDAQ is up 198.40 points.