DTN Closing Livestock Comment 04/06 16:09
6 Apr 2021
DTN Closing Livestock Comment 04/06 16:09 The Bulls are Building in the Cattle Market It was another successful day for the livestock complex as the live cattle, feeder cattle and lean hog contracts all closed predominately higher and strong fundamental backing supports the market's higher trade. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: There were some anxious people in the cattle market that sold fats for $121 (which is $4.00 higher than a week ago), but hopefully the rest of the market sees the week through and feedlots push even harder as the market has more to offer. The excitement and strong bullish push in the live cattle market helped rally the feeder cattle contracts and allowed for skeptical nearby feeder cattle contracts to close higher too. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.27 with a weighted average of $97.81 on 10,347 head. May corn is up 1 cent per bushel and May soybean meal is up $0.10. The Dow Jones Industrial Average is down 96.95 points and NASDAQ is down 7.21 points.