DTN Livestock Close: Feedlots Regain Some Leverage

    Cattle feed lot. Photo: K-State Research and Extension - Creative Commons

    Cash cattle won the struggle this week as Northern dressed cattle sold $1.00 to $4.00 higher and Southern live cattle held steady.

    GENERAL COMMENTS:

    With Northern dressed trade pushing cattle $1.00 to $4.00 higher and Southern live cattle keeping prices fully steady with last week’s business — the cash cattle market deserves a round of applause for sticking to their guns and demanding more of the market’s dollar. The feeder cattle and lean hog contracts weren’t as lucky as both markets closed lower.

    Hog prices closed lower on the Daily Direct Afternoon Hog report, down $0.91 with a weighted average of $106.82 on 8,700 head.

    May corn is up 24 1/2 cents per bushel and May soybean meal is down $3.90. The Dow Jones Industrial Average is up 417.66 points and NASDAQ is up 178.23 points.

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