DTN Closing Livestock Comment 05/05 16:02
Cattle Given Chance to Regain Some of What Tuesday Lost
The lean hog contracts kept their steady, upward progression, but even the
cattle contracts were given the chance to rally Wednesday, and they quickly
jumped at the occasion.
DTN Livestock Analyst
Seeing higher closes throughout the livestock contracts is a refreshing
change! After Tuesday's tumultuous close in the cattle contracts, having a day
to redeem some of the losses was gladly taken by both the live and feeder
cattle contracts. Hog prices closed higher on the National Direct Afternoon Hog
Report, up $1.73 with a weighted average of $116.93 on 8,325 head. July corn is
up 11 3/4 cents per bushel and July soybean meal is up $2.90. The Dow Jones
Industrial Average is up 97.31 points and NASDAQ is down 51.08 points.