DTN Closing Livestock Comment 05/23 16:07
Support Leads Livestock Contracts to Higher Close
Heading into Tuesday's market, the hog complex will look for fundamental
support and the cash hog market is hoping to see some interest develop from
packers.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was a day when constant gains were seen throughout the livestock complex.
The fundamental side of the hog market has some reassuring to do if the hog
contracts are going to continue their upward climb through the later part of
the week. Hog prices closed lower on the Daily Direct Afternoon Hog Report,
down $6.72 with a weighted average of $106.25 on 3,061 head. July corn is up 7
1/2 cents per bushel and July soybean meal is down $7.40. The Dow Jones
Industrial Average is up 618.34 points.
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