DTN Closing Livestock Comment 05/07 16:12
Mostly Higher Closes Summarize Friday's Livestock Developments
Even with the corn market gaining strength Friday afternoon, both the live
cattle and feeder cattle contracts managed to close moderately higher.
DTN Livestock Analyst
It was another week of strong advancements in the lean hog market, but
plenty of challenging hurdles to dodge in the cattle market. Hog prices closed
lower on the National Direct Afternoon Hog Report, down $2.72 with a weighted
average of $113.70 on 5,116 head. July corn is up 13 1/2 cents per bushel and
July soybean meal is up $14.50. The Dow Jones Industrial Average is up 229.23
points and NASDAQ is up 119.40 points.
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