DTN Closing Livestock Comment 05/02 16:17
2 May 2022
DTN Closing Livestock Comment 05/02 16:17 After Monday's Exhilarating Move, Cattle have to Decide What's Next Heading into Tuesday's market, all eyes will be on the cattle contracts as traders will have to decide if the market has more in store for this upward move. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a big day for the cattle complex as lower corn prices opened up the door for higher trade throughout both the live cattle and feeder cattle markets, but the market still has some unknowns that have to be tackled before the week's over. The lean hog complex endured another day downward pressure, but pork cutouts did close higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $2.58 with a weighted average of $97.56 on 3,355 head. July corn is down 10 cents per bushel and July soybean meal is down $1.40. The Dow Jones Industrial Average is up 84.29 points.