DTN Closing Livestock Comment 05/25 16:05
Pressure Builds by Wednesday's Close for the Livestock Contracts
Given that boxed beef prices and cash cattle prices both traded lower by
Wednesday's end, it could be a tough Thursday for the cattle market.
DTN Livestock Analyst
Both the live cattle and lean hog contracts saw pushback develop ahead of
Wednesday's close. In looking to Thursday's market, lower tones could find
their way into the marketplace unless stronger fundamental support comes first.
Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.04
with a weighted average of $112.62 on 9,684 head. July corn is up 1/2 cent per
bushel and July soybean meal is down $2.90. The Dow Jones Industrial Average is
up 191.66 points.
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