DTN Closing Livestock Comment 04/10 16:03
10 Apr 2019
DTN Closing Livestock Comment 04/10 16:03 Hog Futures Surge Late Wednesday Buyers quickly stepped back into the hog trade Wednesday, pushing many contracts triple digits higher. By Rick Kment DTN Analyst GENERAL COMMENTS: Renewed buyer support flooded into the lean hog market Wednesday, pushing deferred futures contracts triple digits higher. Cattle futures, on the other hand, eroded in light-to-moderate trade. Cash cattle activity started to develop on Wednesday with light-to-moderate trade seen in Kansas and Texas at $124 per cwt. This is fully steady with last week. Although additional trade may be done this week, the tone of the market is likely set. Northern trade is undeveloped with bids of $127 live and $203 dressed, but this is still well below asking prices. Trade may be delayed until Friday. The National Daily Direct afternoon hog report was $0.47 higher ($67.50-$78, weighted average $75.68) on 9,912 head sold. Corn futures were higher in light-to-moderate trade with May up 1 3/4 cents per bushel. The Dow Jones Index was 6 points higher with the Nasdaq up 54 points.