DTN Closing Livestock Comment 06/01 15:30
Cash Cattle Trade Jumps Over the Moon
With cash cattle prices trading $7.00 to $9.00 higher, it comes as no
surprise that traders ran the cattle contracts higher Thursday.
DTN Livestock Analyst
The cattle market witnesses few days that surpass the excitement and joy
that came from the market Thursday. Cash cattle prices traded $7.00 to $9.00
higher and once again the momentum in the cash sector sent both the live cattle
and feeder cattle contracts soaring. Hog prices closed lower on the Daily
Direct Afternoon Hog Report, down $0.04 with a weighted average of $86.58 on
19,990 head. July corn is down 1 1/2 cents per bushel and July soybean meal is
up $8.00. The Dow Jones Industrial Average is up 153.30 points.
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