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DTN Closing Livestock Comment 04/21 16:12
The Pressure Is Building in the Livestock Market
It was an ugly day for the livestock contracts as the entire sector closed
lower, even though the market's fundamentals are still notably strong.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was a brutal day watching the livestock contracts trade lower, but it was
even more painful to see the corn market work over the feeder cattle contracts
and equally as painful to see the cash cattle market's developments. Hog prices
closed higher on the National Direct Afternoon Hog Report, up $0.80 with a
weighted average of $106.88 on 11,159 head. May corn is up 19 cents per bushel
and July soybean meal is up $1.40. The Dow Jones Industrial Average is up
316.01 points and NASDAQ is up 163.95 points.
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