DTN Closing Livestock Comment 03/30 15:51

DTN Closing Livestock Comment 03/30 15:51 Lean Hogs Prepped for Report Reaction Live cattle futures were mixed at the close, feeder cattle futures were lower, nearby lean hog futures were lower Wednesday before the USDA Hogs and Pigs report release, and global feed grains prices were moving back higher during a week of whipsawing risk-off/risk-on sentiment. Elaine Kub Contributing Analyst GENERAL COMMENTS: Lean hog futures contracts moved mostly lower during Wednesday's futures trade, but that was before the quarterly USDA Hogs and Pigs report revealed bullish numbers of lower inventories than pre-report estimates suggested. The reaction Thursday could be interesting, with fresh contract highs easily within reach. On the National Direct Afternoon Hog Report, negotiated prices were up $1 to a weighted average price of $104.93 on 13,143 head, and the 5-day rolling average was $105.58 per cwt. Cash cattle business Wednesday matched the neutral tone of the mixed futures trade. A light live trade has been reported in the South at $138, fully steady with the bulk of last week's business. Some asking prices remain firm around $140 to $142 in the South and $224 to $226 in the North. May corn moved up 11 3/4 cents per bushel to $7.38, and May soybean meal was up $7.10 per ton to $473.10. The Dow Jones Industrial Average is down 65 points, and the NASDAQ is down 168 points.