DTN Closing Livestock Comment 03/16 15:35
16 Mar 2016
DTN Closing Livestock Comment 03/16 15:35 Firm Fundamental Support Draws Buyers Back Into Livestock Complex Moderate buyer support developed through livestock futures late Wednesday following early mixed price movement. Strong support in wholesale pork values and boxed beef prices helped to draw additional commercial interest into front-month April live cattle and lean hog futures late Wednesday. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle markets are still undeveloped midweek with the firming fundamentals from stronger wholesale beef demand drawing commercial buying into futures trade. This may push cash market activity into Friday. According to the closing report, the Iowa hog base is $0.60 lower compared with the Prior Day settlement ($60.00-$64.50, weighted average $62.76). The corn market closed lower, down 1/4 cent in the May and down 3/4 cent in the December.