DTN Closing Livestock Comment 03/31 15:14

DTN Closing Livestock Comment 03/31 15:14 Feed Woes Weigh on Livestock Prices Several lean hog contracts closed more than $3 lower and feeder cattle contracts were also lower by triple digits after feed grain prices reacted to a bullish round of crop reports from USDA Thursday. Elaine Kub Contributing Analyst GENERAL COMMENTS: Losses in the livestock markets Thursday were led by lean hog futures, which dropped by more than $3 per cwt in heavy profit-taking trade volume after the quarterly Hogs and Pigs report. On the National Direct Afternoon Hog Report, negotiated prices were down $2.61 to a weighted average price of $102.32 on 8,455 head, and the 5-day rolling average was $104.72 per cwt. Cash cattle are seeing a light trade developing in parts of the North at $222 to $225, which is $1 to $4 higher than last week. The high end of these sales is by a regional and set for delivery the week of April 18; the $222 is set for delivery the week of April 11. Asking prices for cattle left on showlists are around $140 in the South and $225-plus in the North. May corn moved up 10 3/4 cents per bushel to $7.48 3/4 and May soybean meal was down $5.60 per ton to $467.50. The Dow Jones Industrial Average is down 474 points and the NASDAQ is down 185 points.