DTN Closing Livestock Comment 04/15 16:06
Cattle Remain Strong Through Monday's Close
Heading into Tuesday's market, the cattle complex hopes traders will remain
active and hog fans hope Monday's higher close in the afternoon carcass price
will encourage traders to look at their market as well.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
Monday's trade was a breath of fresh air for the cattle complex as many were
worried that the market would pressure the current support plane of $172.
Meanwhile, the lean hog complex didn't see the same level of support as most of
its nearby contracts closed lower. Hog prices closed lower on the Daily Direct
Afternoon Hog Report, down $0.89 with a weighted average price of $85.71. May
corn is down 4 cents per bushel and May soybean meal is down $5.90. The Dow
Jones Industrial Average is down 248.13 points.
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