DTN Closing Livestock Comment 04/17 15:46
17 Apr 2024
DTN Closing Livestock Comment 04/17 15:46 Cattle Run Out of Steam on Wednesday Heading into Thursday's trade, cattlemen hope traders find better support and livestock participants want a strong export report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle complex ran out of support Wednesday as traders looked for a strong fundamental reason why they should continue to advance the contracts. Upon seeing none, both the live cattle and feeder cattle contracts closed slightly lower. Meanwhile, the lean hog market closed slightly higher and hog fans hope Thursday's export report is again fruitful. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.09 with a weighted average price of $89.13 on 8,416 head. May corn is down 3/4 cent per bushel and May soybean meal is up $3.40. The Dow Jones Industrial Average is down 45.66 points.