DTN Closing Livestock Comment 04/08 16:18
8 Apr 2020
DTN Closing Livestock Comment 04/08 16:18 Cattle Heads Into Thursday with Confidence; Hog Contracts Weaken It was a good day for the cattle contracts as both markets were able to push higher for the third consecutive day, but hog contracts weakened and weren't able to capture the same momentum. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Cattle contracts have officially passed the midweek point fully higher so far through the entirety of the week, but with the later part of the week nearing, producers are eyeing the market carefully. Unfortunately, the same good luck can't be said about the lean hog market. Contracts fell midmorning and cash prices continue to weaken. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.30 with a weighted average of $40.32. May corn is down 1 1/2 cents per bushel and May soybean meal is down $1.00. The Dow Jones Industrial Average is up 779.71 points and NASDAQ is up 203.64 points.