DTN Closing Livestock Comment 05/03 16:17
3 May 2021
DTN Closing Livestock Comment 05/03 16:17 Lean Hogs Reach for More The cattle contracts faced modest pressure in their nearby contracts while the deferred contracts felt far enough removed from the market's immediate vulnerabilities to close higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The corn market and the cattle contracts played cat and mouse all day as the corn market wasn't sold on trading fully higher but hated the idea of closing somewhat lower. Meanwhile, the lean hog complex continues to gain momentum as supplies are exceptionally thin and the market continues to beg for more product. Hog prices closed lower on the National Direct Afternoon, down $0.82 with a weighted average of $111.67 on 5,182 head. July corn is up 6 1/4 cents per bushel and July soybean meal is down $11.00. The Dow Jones Industrial Average is up 238.38 points and NASDAQ is down 67.56 points.