DTN Closing Livestock Comment 05/27 16:06
Support Pushes Through Closing Wednesday
Livestock contracts closed mostly higher Wednesday. The lean hog complex
felt some nearby pressure, but for the most part was able to rally with the
rest of the marketplace.
DTN Livestock Analyst
As Wednesday comes to close, the market hangs its hat on another day of
positive movement in the futures market. Thursday will pressure the market and
see if there's enough support to keep moving higher or if the traders who are
invested are good with where the market sits. Hog prices are lower on the
National Direct Afternoon Hog Report, down $1.57 with a weighted average of
$37.82 on 5,363 head. July corn is up 1 1/2 cents per bushel and July soybean
meal is down $1.90. The Dow Jones Industrial Average is up 553.16 points and
NASDAQ is up 72.14 points.
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