DTN Closing Livestock Comment 04/05 15:34
5 Apr 2021
DTN Closing Livestock Comment 04/05 15:34 Cattle, Hogs Participate in Broad Market Gains Market exuberance after the three-day weekend led to large trading volumes for many markets, including the livestock futures, which spent most of the session posting gains and, in some cases, hitting fresh contract highs. Elaine Kub Contributing Analyst GENERAL COMMENTS: Feeder cattle futures led the gains in the livestock market Monday, trying to make up for last week's lost ground and struggling to keep up with the fed cattle market's continual trend of day-by-day fresh contract highs. Lean hog futures also explored fresh contract highs amid a heavy volume of pent-up trade Monday. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.86 with a weighted average of $98.08 on 3,437 head. This week's cash cattle trade will be referenced off last week's trade: mostly $190 in the North and $117 in the South. May corn closed down 6 1/2 cents per bushel at $5.53 1/2 and May soybean meal closed down $3.90 per ton at $406.30. The Dow Jones Industrial Average is up 373.98 points and NASDAQ is up 268.64 points.