Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Closing Livestock Comment 04/17 15:32
   Livestock Futures End Mixed Wednesday

   Nearby and deferred lean hog futures continued to move in opposite
directions Wednesday, as a lack of fundamental support is eroding summer
prices. Cattle markets struggled to move in any direction Wednesday.

By Rick Kment
DTN Analyst



   GENERAL COMMENTS: Trade was mixed throughout the livestock complex midweek
as pressure in nearby contracts was offset by support in deferred contract
months. Cash cattle trade started to develop Wednesday, marking the fourth
consecutive week that at least light trade has developed midweek. Sales in the
South at $126 per cwt are $2 per cwt higher than last week. This is likely to
be enough cattle to set the tone for Southern markets and could limit
additional trade in Texas and Kansas through the rest of the week. Northern
trade is still undeveloped, although bids are becoming more active at $126 to
$127 live and $204 dressed. It may be Thursday or Friday before these areas
trade cattle. Asking prices are firming as the day continues, with live cattle
priced at $128 to $130 and $208 and higher dressed. The National Daily Direct
afternoon hog report was $0.20 lower ($70-$80, weighted average $77.18) on
7,125 head sold. Corn futures were lower in light trade with May down 3/4 cent
per bushel. The Dow Jones Index was 3 points lower with the Nasdaq down 4
points.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN