Farmers Co Op Society issued the following announcement on May 15.
Packers jumped cash cattle bids Friday afternoon, which pushed cattle
contracts higher and left the week rallying into the weekend.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The board fought with itself as traders were cautious with how high the
market should go. Meanwhile, the cash cattle market was dead set on trading
higher this week. The lean hog complex may not have seemed to have a good week,
but given the aggression packers have had on processing,the number of hogs they
have moved is commendable. Hog prices closed higher on the National Direct
Afternoon Hog Report, up $0.05 with a weighted average of $37.11 on 10,255
head. July corn is up 1 3/4 cents per bushel and July soybean meal is down
$0.70. The Dow Jones Industrial Average is up 60.08 points and NASDAQ is up
70.84 points.
Original source: https://www.farmerscoopsociety.com/dtn-news/entry?storyId=0701D22C&service=MKTNEWS
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