DTN Closing Livestock Comment 05/20 15:50
Higher Corn Prices Grab the Cattle Market's Attention on Monday
Heading into Tuesday's trade traders will continue to look for consumer
demand and monitor corn prices.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Higher corn prices kept the cattle contracts from rallying unbridled
throughout Monday's trade, but if the market's fundamentals shine like they did
last week -- higher trade will likely be in play for the later part of the
week. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down
$2.14 with a weighted average price of $86.43 on 2,002 head. July corn is up 8
cents per bushel and July soybean meal is up $5.30. The Dow Jones Industrial
Average is down 196.82 points.
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