DTN Closing Livestock Comment 05/02 15:41
2 May 2023
DTN Closing Livestock Comment 05/02 15:41 Cash Cattle Prices Drift Lower for Third Week in a Row Heading into Wednesday's market, cattlemen are hoping that cash prices don't soften any more. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a heavy, burdensome day for the cattle complex as the onset of cheaper cash cattle trade sent the contracts plummeting. Meanwhile the lean hog complex had a stellar day as the contracts were able to close slightly higher, but more importantly cash prices and pork cutout values closed higher. Hog prices closed higher on the Daily Direct Afternoon hog report, up $1.04 with a weighted average of $73.89 on 13,851 hogs. July corn closed down 4 1/2 at $5.8 and July soybean meal closed down $5.70 at $427.9. The Dow Jones Industrial Average is down 367.17 at 33,684.53.