DTN Closing Livestock Comment 05/23 16:02
Cash Cattle Market Still Hasn't Traded
As packers and feedlot managers go toe-to-toe, this week's trade is being
pushed to the late afternoon hours.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was a long day for the livestock complex as not much developed positively
for the lean hog complex, and the cattle complex is still waiting to see what
happens in this week's fed cash cattle market. There are bids of $218 to $220
currently being offered in the South but still no cattle have traded. July corn
is down 3 1/2 cents per bushel and July soybean meal is down $2.30. The Dow
Jones Industrial Average is down 256.02 points and the NASDAQ is down 188.52
points.
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