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DTN Closing Livestock Comment 04/19 15:33
Stronger Tones Keep with Most of the Livestock Complex Through Friday's End
Heading into Monday's trade, it will be interesting to note how traders
receive Friday's Cattle on Feed report given that placements were down 12%.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
All in all, it was a good day for the livestock complex as both the live
cattle and lean hog markets closed higher, and the feeder cattle market seemed
to retreat in preparation for Friday's Cattle on Feed report which ended up
being rather supportive to the feeder cattle market. Hog prices closed lower on
the Daily Direct Afternoon Hog report, down $1.29 with a weighted average price
of $88.49 on 1,268 head. May corn is up 6 3/4 cents per bushel and July soybean
meal is up $5.80. The Dow Jones Industrial Average is up 211.02 points.
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