DTN Closing Livestock Comment 05/30 15:22
Katy Bar the Door! Livestock Soared Through Tuesday's Market
Traders ran the livestock contracts higher throughout all of Tuesday's
market as they felt the relief of the corn market's pressure.
DTN Livestock Analyst
It was an exhilarating day for the livestock complex as weaker corn prices
incentivized traders of the livestock markets aggressively. No cash cattle
trade was reported, but business could begin to develop some time Wednesday at
the earliest. Hog prices on the Daily Direct Afternoon Hog Report averaged
$75.15 on 4,106 head. July corn is down 10 cents per bushel and July soybean
meal is down $9.60. The Dow Jones Industrial Average is down 69.17 points.