DTN Closing Livestock Comment 04/30 15:42

DTN Closing Livestock Comment 04/30 15:42 Cattle Futures Stumble Late Tuesday Live cattle futures started the day narrowly mixed but turned lower late Tuesday following triple-digit losses in feeder cattle futures. Hog futures eroded through the end of the session, unable to sustain initial buyer interest. By Rick Kment DTN Analyst GENERAL COMMENTS: Hog futures surged higher early Tuesday morning, but the bearish tone of livestock markets caused prices to erode. The most aggressive pressure developed in deferred contracts as traders focused on uncertain demand. Cattle futures shifted lower, following triple-digit losses in feeder cattle futures. Limited cash market interest developed Tuesday with cattle remaining untraded. A few token bids wandered through the market Tuesday afternoon at $122 to $123 per cwt live basis through the South. Asking prices in the South are starting at $126 and higher. No interest has developed at this point in the North, although this is not unusual for this time of the week. Some business may develop Wednesday, but most activity is likely to be pushed to the last couple days of the week. The National Daily Direct afternoon hog report was $0.67 higher ($71-$83.25, weighted average $80.46) on 9,465 head sold. Corn futures were higher in light trade with July up 3/4 cent per bushel. The Dow Jones Index was 8 points higher with the Nasdaq down 63 points.