DTN Closing Livestock Comment 03/06 15:38

DTN Closing Livestock Comment 03/06 15:38 Feeder Cattle Pressure Spills Over to Live Cattle Continued pressure developed in feeder cattle trade Wednesday with futures breaking through initial support levels. Cattle futures slowly shifted lower, as well, but light-volume trade limited losses. By Rick Kment DTN Analyst GENERAL COMMENTS: Moderate pressure continued to develop in most livestock trade. Summer feeder cattle contracts led the market lower with triple-digit losses. Limited volume was seen in most contracts, allowing for general market erosion midweek. Cash cattle activity remained generally sluggish Wednesday, and is likely to remain untraded until late in the week. A few token bids developed at $205 per cwt in the North, while asking prices are becoming slightly more available as the day progresses. Cattle are priced at $130 live and $207 and higher dressed. The National Daily Direct afternoon hog report was $0.33 higher ($41.50-$46, weighted average $44.89) on 10,947 head sold. Corn futures were lower in light activity with May down 3 cents per bushel. Dow Jones Index is 100 points lower with the Nasdaq down 60 points.