DTN Closing Livestock Comment 04/09 16:42
The Week the Cattle Market Desperately Needed
This past week gave the livestock sector an opportunity to rally and, even
though the cattle contracts closed lower Friday afternoon, the market made
stark advancements throughout the week.
DTN Livestock Analyst
The cattle contracts may have closed lower Friday afternoon, but that
doesn't take anything away from the amazing rally this past week. The lean hog
contracts held their ground and continued to rally, closing out Friday's trade
mostly higher. Hog prices closed higher on the National Direct Afternoon Hog
Report, up $0.80 with a weighted average of $100.21 on 8,411 head. May corn is
down 2 1/2 cents per bushel and May soybean meal is down $5.60. The Dow Jones
Industrial Average is up 297.03 points and NASDAQ is up 70.87 points.
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