DTN Closing Livestock Comment 04/13 15:37
13 Apr 2023
DTN Closing Livestock Comment 04/13 15:37 Cash Cattle Trade Higher But Futures Retracked Ahead of Closing The cash cattle market lent the futures complex all the support it could have ever wished for, but still the live cattle and feeder cattle contracts closed lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was an odd day for the cattle contracts as the market boiled at the day's start with eager aspirations and then received continued support from the cash cattle market. However, both the live cattle and feeder cattle contracts closed mostly lower. Meanwhile the lean hog complex traded lower throughout most of the day as traders were disappointed in Thursday's export report. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.28 with a weighted average of $69.26, ranging from $61.00 to $72.00 on 5,541 head. May corn is down 3 3/4 cents per bushel and May soybean meal is up $3.40. The Dow Jones Industrial Average is up 367.13 points.