DTN Closing Livestock Comment 03/19 15:29
19 Mar 2019
DTN Closing Livestock Comment 03/19 15:29 Feeder Cattle Futures Surge Higher Underlying support moved back into feeder cattle trade Tuesday. April futures tested short-term resistance levels, sparked by supply concerns and adverse weather conditions. By Rick Kment DTN Analyst GENERAL COMMENTS: Strong buyer support is moving through cattle trade with feeder cattle futures posting strong triple-digit gains in several contracts. The underlying support helped spark buying into live cattle markets, despite the lack of active support. Hog futures eroded, as position taking focused on adjusting price levels after strong earlier gains. Corn futures are lower in light activity. May futures fell 1/4 cent per bushel. Dow Jones Index is 29 points lower with Nasdaq up 9 points.