DTN Closing Livestock Comment 03/26 15:43
Cattle Futures Continue to Move Lower
Most livestock contracts saw moderate-to-firm pressure Tuesday on concerns
about follow-through pressure through the end of the month.
By Rick Kment
GENERAL COMMENTS: Moderate-to-firm pressure quickly developed throughout the
livestock trade, although select contracts managed to move higher. Deferred
feeder cattle contracts posted triple-digit losses following increased pressure
in live cattle trade. Cash cattle markets remained at a complete standstill
with no sign of asking prices or bids at this point in the week. Limited
interest is expected to be seen over the next couple of days, but this may keep
traders from making deals until sometime Friday. The National Daily Direct
afternoon hog report was unreported due to packer submission issues at this
time. Corn futures were higher in light activity with May up 2 1/2 cents per
bushel. The Dow Jones Index was 140 points higher with the Nasdaq up 53 points.
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