DTN Closing Livestock Comment 05/10 15:43
   Steady Cash Cattle Trade Keeps the Live Cattle Contracts Higher

   It was a busy day for the livestock complex as both the live cattle and lean
hog contracts rounded out the day higher, but the feeder cattle contracts
didn't receive the same support.

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   Boxed beef demand never substantiated like the market had hoped, but thanks
to a steady trading cash cattle complex, traders allowed the live cattle
complex to close higher. The feeder cattle complex closed mixed with the summer
2024 contracts trending lower, but the lean hog market closed higher as
afternoon pork cutout values closed higher. Hog prices closed lower on the
Daily Direct Afternoon Hog Report, down $0.94 with a weighted average price of
$88.41 on 3,116 head. July corn is up 13 1/4 cents per bushel and July soybean
meal is down $1.00. The Dow Jones Industrial Average is up 125.08 points.