DTN Closing Livestock Comment 04/14 16:10
Cattle Close Lower as Traders Are Hesitant
The live cattle complex would have loved the opportunity to close higher,
but know that strategic planning on the cash cattle market side of things will
greatly affect their ability to trade either higher or lower later in the week.
DTN Livestock Analyst
It was a positive day for the lean hog market once again as the futures
complex closed higher amid a slightly lower close in pork cutout value. Looking
to Thursday's trade, both the cattle and hog markets are anxious to see the
week's export report and hope that it can share some positive news. Hog prices
closed lower on the National Direct Afternoon Hog Report, down $0.20 with a
weighted average of $101.35 on 12,530 head. May corn is up 14 cents per bushel
and May soybean meal is up $3.20. The Dow Jones Industrial Average is up 53.62
points and NASDAQ is down 138.26 points.
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