DTN Closing Livestock Comment 05/22 15:43
Cattle Futures Charge Into Pre-Holiday Week
The cattle complex closed significantly higher with most deferred contracts
nailing triple-digit gains. On the other hand, lean hog issues settled narrowly
mixed with August attracting the most buying interest.
By John Harrington
DTN Livestock Analyst
Activity in feedlot country was limited to the distribution of new
showlists. Generally speaking, ready numbers appear smaller than last week with
only Nebraska offering more. According to the closing report, the national hog
base is .33 lower ($66.00-71.50, weighted average $70.51). Corn futures closed
several cents higher, somewhat supported by weekend rains and delayed planting
concerns. The stock market closed higher with the Dow up 90 points and the
Nasdaq positive by 49.
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