DTN Closing Livestock Comment 04/02 15:40
2 Apr 2020
DTN Closing Livestock Comment 04/02 15:40 Bearish Market Tone Continues Thursday Expanded trading limits were hit in all livestock markets as active market pressure developed across cattle and hog futures. The underlying weakness is causing additional end of the week concerns in all sectors of the industry. By Rick Kment DTN Analyst GENERAL COMMENTS: Intense price pressure has swept through all livestock markets with expanded limits adding to the downward pressure. Live cattle futures have fallen $9 per cwt in the past two sessions as growing concerns of tumbling beef values and demand erosion caused trader liquidation. Hog prices are lower once again on the National Direct Afternoon Hog Report, down $3.76 with a weighted average of $44.61 .May corn is down 1 1/2 cent per bushel and May soybean meal is down $5.80. The Dow Jones Industrial Average is up 456.28 points and NASDAQ is up 82.84 points.