DTN Closing Livestock Comment 04/10 15:44
10 Apr 2024
DTN Closing Livestock Comment 04/10 15:44 Livestock Complex Closes Lower Following 3.5% Jump in Consumer Price Index It was a painful day for the livestock complex as traders were derailed following the announcement that the Consumer Price Index jumped 3.5% in March. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The 3.5% jump in March's Consumer Price Index (CPI) sent the livestock complex trading lower and was ultimately the demise of the market through Wednesday's trade. The cash cattle complex didn't see any trade develop but asking prices have been noted in the South at $186. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.14 with a weighted average price of $90.63 on 5,283 head. May corn is up 3 cents per bushel and May soybean meal is down $4.70. The Dow Jones Industrial Average is down 421.95 points.