DTN Closing Livestock Comment 05/16 16:04
Beef and Pork Cuts See Support by Monday's Close
Monitoring boxed beef prices and pork cutout values will be important to
the market's success throughout the remainder of the week.
DTN Livestock Analyst
It was a good day for the live cattle and lean hog contracts, as both
markets saw aggressive processing speeds throughout Monday, and both pork and
boxed beef prices closed higher. The feeder cattle complex couldn't look past
the corn market's advancement and rounded out the day fully lower. Hog prices
closed higher on the Daily Direct Afternoon Hog Report, up $0.17 with a
weighted average of $101.64 on 3,013 head. July corn is up 28 1/4 cents per
bushel and July soybean meal is up $4.30. The Dow Jones Industrial Average is
up 26.76 points.
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