DTN Closing Livestock Comment 04/08 16:18
Cattle Heads Into Thursday with Confidence; Hog Contracts Weaken
It was a good day for the cattle contracts as both markets were able to push
higher for the third consecutive day, but hog contracts weakened and weren't
able to capture the same momentum.
By ShayLe Stewart
DTN Livestock Analyst
Cattle contracts have officially passed the midweek point fully higher so
far through the entirety of the week, but with the later part of the week
nearing, producers are eyeing the market carefully. Unfortunately, the same
good luck can't be said about the lean hog market. Contracts fell midmorning
and cash prices continue to weaken. Hog prices closed lower on the National
Direct Afternoon Hog Report, down $0.30 with a weighted average of $40.32. May
corn is down 1 1/2 cents per bushel and May soybean meal is down $1.00. The Dow
Jones Industrial Average is up 779.71 points and NASDAQ is up 203.64 points.
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