DTN Closing Livestock Comment 04/25 15:55

DTN Closing Livestock Comment 04/25 15:55 Livestock Futures Down Triple Digits Thursday Traders reacted to the lack of pork sales to China by pushing most contract months limit lower Thursday. The inability to continue aggressive sales notices took the market by surprise. Cattle futures also continued shift lower Thursday. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures tumbled from the early minutes of trade Thursday with many contracts closing triple digits lower. A lack of reported weekly pork trade to China led to limit losses in hog futures. Technical pressure carried over from Wednesday's losses, pushing contracts through support levels. Additional losses could be seen Friday as the market structures remain weak. Cash cattle trade in the North started to develop Thursday morning with additional volume expected to continue late in the day. Prices were seen at $127 live and $205 dressed. This is generally $3 per cwt lower than last week. Southern trade Wednesday was steady to $1 per cwt higher at $126 to $127 on most cattle sold. Although some additional numbers may develop Friday, especially in the North, the tone of the market is expected to be set. It is quite possible that trade in the South is done for the week, once again following the trend over the last few weeks of moderate midweek trade sufficient for packers needs. The National Daily Direct afternoon hog report was $0.50 higher ($73.00 to $84.00, weighted average $81.24) on 7,384 head sold. Corn futures were higher in light trade with July up 1 1/2 cents per bushel. The Dow Jones Index was 121 points lower with Nasdaq up 18 points.