DTN Closing Livestock Comment 04/22 15:47
22 Apr 2019
DTN Closing Livestock Comment 04/22 15:47 Active Selling Developed Monday Market weakness quickly developed in cattle and hog futures Monday. This softness focused on growing cattle supplies and concern that long-term pork demand will be unable to meet previous hopes. By Rick Kment DTN Analyst GENERAL COMMENTS: Strong triple-digit losses quickly developed in all livestock futures trade Monday. Lean hog futures posted aggressive nearby losses as summer contracts saw pressure of $2 per cwt or greater during the session. Concerns that recent gains may not be able to be sustained even with strong export demand is eroding buyer support. Cattle traders have adjusted positions following increased feedlot supplies in March. Corn futures are lower in light trade. May futures fell 3 3/4 cents per bushel. Dow Jones Index is 54 points lower with Nasdaq up 8 points.