DTN Closing Livestock Comment 02/06 15:59

DTN Closing Livestock Comment 02/06 15:59 Cattle Futures Plummet Lower Thursday Despite the midweek price bounce, traders took a bearish approach to cattle markets Thursday. Triple-digit losses held in all cattle contracts as traders remain concerned about follow-through pressure in the coming days. Rick Kment DTN Analyst GENERAL COMMENTS: Feeder cattle futures quickly led the cattle market for another day of sharp losses as midweek buyer support was unable to be sustained. Traders continue to focus on any fear of tariff announcements and allowing Mexican cattle to reenter the US market. The volatility in the market continues to be the main driver of both live cattle and feeder cattle prices with markets quickly eroding from last week's highs and trying to reestablish any sense of market support at current prices. Hog futures were steady to fractionally higher in limited trade Thursday. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.48 with a weighted average of $86.23 on 1,502 hogs. March corn closed up 2 at $4.953 and March soybean meal closed down $1.90 at $306.4. The Dow Jones Industrial Average is down 125.65 at 44,747.63.