DTN Closing Livestock Comment 06/01 15:55
1 Jun 2022
DTN Closing Livestock Comment 06/01 15:55 Livestock Complex Has Midweek Rally The cash cattle market still needs to see more cattle trade, especially in the North, and with feedlots eyeing the board's strength, it's not unlikely that packers have to come to the table with better bids. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was an excellent day for the livestock complex as the contracts closed higher, and in terms of the lean hog complex, fundamental support was stellar. Heading into Thursday's trade, the live cattle market is hoping that feedlots stick together and can rally the cash market into holding out until packers pay up at least a $1.00. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $4.10 with a weighted average $115.68 on 19,443 head. July corn is down 22 1/4 cents per bushel and July soybean meal is down $2.10. The Dow Jones Industrial Average is down 176.89 points.