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DTN Closing Livestock Comment 05/17 15:42
: Cash Cattle Prices Jump $2 to $5 Higher
Feedlots' determination to advance this week's cash cattle market paid off
as prices were $2.00 to $5.00 higher than last week's weighted average.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was an invigorating day for the cattle complex as cash prices, boxed beef
prices and the futures contracts all closed higher. Meanwhile the lean hog
market didn't see the same level of support as demand is in question. Hog
prices closed lower on the Daily Direct Afternoon Hog Report, down $0.76 with a
weighted average price of $88.57 on 2,669 head. July corn is down 4 1/2 cents
per bushel and July soybean meal is up $1.10. The Dow Jones Industrial Average
is up 119.82 points.
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