DTN Closing Livestock Comment 05/17 16:03
Feeder Cattle Contracts Saw Monday as an Opportunity
It was a mixed day for the livestock sector as the feeder cattle market made
the most of the day's opportunity but both the live cattle and lean hog
contracts faced challenges.
DTN Livestock Analyst
All in all, it was a mostly quiet day throughout the livestock complex as
the lean hog contracts didn't find enough fundamental support to close higher
and the live cattle contracts continue to trade in a pressured manner.
Meanwhile, as the corn market closed mixed, the feeder cattle contracts saw the
market's uncertainty as an opportunity to close higher and did so with ease.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $2.51
with a weighted average of $110.10 on 5,910 head. July corn is up 8 3/4 cents
per bushel and July soybean meal is down $3.60. The Dow Jones Industrial
Average is down 54.34 points and NASDAQ is down 50.93 points.
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