DTN Closing Livestock Comment 05/31 15:33
31 May 2023
DTN Closing Livestock Comment 05/31 15:33 Livestock Complex Continues to Trade Higher The livestock complex again closed higher with weaker corn prices being the market's largest contributing factor. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was another gangbuster day for the livestock complex as deteriorating corn prices give the market even more incentive to trade higher. No substantial cash cattle trade developed, but trade will likely begin to take place on Thursday as packers won't be able to sit this week's market out entirely. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $11.47 with a weighted average of $86.62 on 22,741 head. July corn is steady and July soybean meal is steady. The Dow Jones Industrial Average is down 124.99 points.