DTN Closing Livestock Comment 04/16 16:26
16 Apr 2020
DTN Closing Livestock Comment 04/16 16:26 Higher Cattle Prices Headed Into Friday; Lean Hogs Trail Lower As the week heads toward Friday, cattle contracts stepped higher, giving cash cattle trade the potential encouragement to trade higher on Friday, if the momentum is still there. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Lean hog contracts closed lower Thursday while cattle contracts moved higher. The combination of packing plant issues and the surplus of hogs is eating at the lean hog market. Hog prices are lower on the National Direct Afternoon Hog Report, down $1.16 with a weighted average of $32.87 on 7,086 head sold. May corn is up 1/2 cent per bushel and May soybean meal is down $0.40. The Dow Jones Industrial Average is up 33.33 points and NASDAQ is up 139.18 points.