DTN Closing Livestock Comment 03/23 15:42
Cautious Tones Continue to Hobble the Livestock Markets
The livestock complex closed mostly lower as traders continue to keep an
arm's length distance from the contracts amid the U.S. banking uncertainty.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS
It was a lackluster day for the livestock complex as the futures complex
didn't seem to care that the market received supportive export news and opted
to close lower regardless. The feeder cattle contracts were the only livestock
market to see mild support as corn prices closed lower and which allowed
feeders to rally mildly. Hog prices closed lower on the Daily Direct Afternoon
hog report, down $0.92 with a weighted average of $76.71 on 7,250 hogs. May
corn closed down 1 3/4 at $6.318 and May soybean meal closed down $13.30 at
$438.3. The Dow Jones Industrial Average is up 75.14 at 32,105.25.
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