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DTN Closing Livestock Comment 04/12 16:09

12 Apr 2021
DTN Closing Livestock Comment 04/12 16:09 Livestock Contracts Lack Technical Support It was a mixed day for the livestock contracts as the markets aspired to trade higher, but for the live cattle and lean hog contracts it was a day of unmet wishes. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a mixed day for the livestock complex as the feeder cattle market closed higher but both the live cattle and lean hog contracts closed slightly lower. As traders look at the marketplace, they want to see strong fundamental backing before they help move the market any higher and risk their own positions. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.33 with a weighted average of $100.54 on 5,108 head. May corn is down 8 1/4 cents per bushel and May soybean meal is up $0.70. The Dow Jones Industrial Average is down 55.20 points and NASDAQ is down 50.18 points.