DTN Closing Livestock Comment 04/15 16:06
15 Apr 2024
DTN Closing Livestock Comment 04/15 16:06 Cattle Remain Strong Through Monday's Close Heading into Tuesday's market, the cattle complex hopes traders will remain active and hog fans hope Monday's higher close in the afternoon carcass price will encourage traders to look at their market as well. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Monday's trade was a breath of fresh air for the cattle complex as many were worried that the market would pressure the current support plane of $172. Meanwhile, the lean hog complex didn't see the same level of support as most of its nearby contracts closed lower. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.89 with a weighted average price of $85.71. May corn is down 4 cents per bushel and May soybean meal is down $5.90. The Dow Jones Industrial Average is down 248.13 points.