DTN Closing Livestock Comment 03/27 15:49

DTN Closing Livestock Comment 03/27 15:49 Cattle Futures Slide Lower Cattle futures continued their three-day slide on Wednesday. Cash cattle started to trade at midweek, falling $2 from last week. Meanwhile, the April lean hog futures contract surged higher. By Rick Kment DTN Analyst GENERAL COMMENTS: The April lean hog futures contract surged higher Wednesday on continued support in cash hogs. The rest of the livestock complex remained generally weak on outside market weakness. Cash cattle trade quickly developed Wednesday morning with Southern deals struck at $126 per cwt live. With prices falling $2 per cwt lower from week-ago levels, additional dressed trade started to develop early afternoon Wednesday at $206 to $207. Most trade was seen at $206, which is $2 per cwt lower than last week. Although additional trade may continue to develop through the rest of the week, the tone of the market is already set, likely inking prices for the week at current levels. The National Daily Direct afternoon hog report was $1.87 higher ($64-$80, weighted average $74.92) on 10,605 head sold. Corn futures were lower in light activity with the May down 3 1/2 cents per bushel. The Dow Jones Index was 32 points lower with the Nasdaq down 48 points.