DTN Closing Livestock Comment 05/13 16:11
13 May 2021
DTN Closing Livestock Comment 05/13 16:11 Rumors of Dark Saturdays in Beef Plants Send Cattle Tumbling Lower Even though the corn market drew back by $0.38 to $0.40 in the nearby contracts, the whispers of a dark Saturday in a major beef plant stole the cattle market's attention. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: As if the cattle market needed any more heartache, Thursday's trade feels like an utter robbery. With the corn market plummeting lower, the cattle contracts were sitting prime to have a strong rally until rumors broke out that a major beef plant isn't planning on processing cattle this Saturday. Hog prices closed lower on the National Direct Afternoon Hog Report, down $2.28 with a weighted average of $113.45 on 3,709 head. July corn is down 40 cents per bushel and July soybean meal is down $27.40. The Dow Jones Industrial Average is up 433.79 points and NASDAQ is up 93.31 points.