Tuesday, May 21, 2024  

 
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DTN Closing Livestock Comment 05/21 15:42
   Strong Beef Demand Keeps Traders Excited to Support the Cattle Complex

   Heading into Wednesday's market traders will again be watching boxed beef
prices and pork cutout values, as well as looking for early asking prices in
the Northern plains.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   It was another good day for the cattle complex as traders are thrilled to
see continued boxed beef demand, but the lean hog complex is struggling as its
market isn't seeing the consumer demand it had hoped for. No cash cattle trade
has developed yet, and trade will likely be delayed until Thursday or Friday.
Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.77
with a weighted average price of $88.20 on 5,703 head. July corn is down 2 1/2
cents per bushel and July soybean meal is down $1.80. The Dow Jones Industrial
Average is up 66.22 points.
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