DTN Closing Livestock Comment 04/29 16:18
29 Apr 2021
DTN Closing Livestock Comment 04/29 16:18 Cattle Say So Long to April Contracts Looking to Friday's trade, the cattle contracts hope the corn market will be pressured again and the lean hog contracts know that resistance pressure is still going to be looming. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: With April feeder cattle futures set to expire Thursday and the April live cattle contract expiring Friday afternoon, the cattle complex looks ahead to see what's in store. Largely, the cattle contracts are going to be monitoring corn prices until some essence of normalcy is regained. Meanwhile, lean hog futures had an "OK" day as the market was pressured by technical resistance but still managed to hold its own from a fundamental perspective. Hog prices closed lower on the National Direct Afternoon Hog report, down $0.42 with a weighted average of $111.10 on 4,896 head. July corn is up 4 1/4 cents per bushel and July soybean meal is up $1.20. The Dow Jones Industrial Average is up 239.98 points and NASDAQ is up 31.52 points.