DTN Closing Livestock Comment 04/18 15:59
18 Apr 2022
DTN Closing Livestock Comment 04/18 15:59 Cattle Shoot Lower Amid Skyrocketing Grain Prices It was a tough pill to swallow after last week's aggressive trade, but upon seeing higher grain prices, the cattle contracts were pushed lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Technically speaking, the board had a tremendous day in the lean hog complex, but both the live cattle and feeder cattle contracts struggled as the market gasped upon seeing grain prices skyrocket higher. Hog prices averaged $97.22 on the Daily Direct Hog Report, with a movement of 3,989 head and a five-day rolling average of $98.38. May corn is up 23 cents per bushel and May soybean meal is up $4.60. The Dow Jones Industrial Average is down 39.54 points.