DTN Closing Livestock Comment 04/30 15:35
30 Apr 2024
DTN Closing Livestock Comment 04/30 15:35 USDA's Testing of Ground Beef for Avian Influenza Panicked the Cattle Complex Even though the USDA believes that meat supplies are safe from H5N1, traders still reacted poorly to their announcement of testing ground beef for the virus. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: USDA's announcement that their now testing ground beef for traces of avian influenza did not sit well with the cattle complex and ultimately led traders to dump both the live cattle and feeder cattle contracts lower by Tuesday's end. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $2.40 with a weighted average price of $92.03 on 6,186 head. July corn is down 2 1/2 cents per bushel and July soybean meal is down $2.40. The Dow Jones Industrial Average is down 570.17 points.