DTN Closing Livestock Comment 05/06 16:12
Lean Hogs, Live Cattle Lean Forward Through Closing
Heading into Friday's trade and rounding out the week, the feeder cattle
contracts are hopeful that the corn market might be idle so they won't have to
endure stark losses once again.
DTN Livestock Analyst
It was a relatively quiet day for the livestock complex with both the lean
hog and live cattle contracts seeing modest support carry the contracts higher
into the day's close, while the feeder cattle complex continued to sway lower
as corn prices kept rallying. Hog prices closed lower on the National Direct
Afternoon Hog Report, down $0.51 with a weighted average of $116.42 on 6,533
head. May corn is up 6 1/4 cents per bushel and May soybean meal is up $3.40.
The Dow Jones Industrial Average is up 318.19 points and NASDAQ is up 50.42
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