DTN Closing Livestock Comment 04/19 16:09
Cattle and Lean Hogs Close Starkly Different
The cattle contracts flounder through Monday's trade while the lean hog
contracts didn't bat an eye at shooting higher at Monday's earliest opportunity.
DTN Livestock Analyst
The cattle contracts may have had another rough day, but the lean hog
contracts didn't let than rain on their ambitious market. As corn prices keep
creeping higher, the cattle contracts continue to wane lower, but the lean hog
market took Monday with a bold grasp and rallied significantly higher. Hog
prices closed higher on the National Direct Afternoon Hog Report, up $0.45 with
a weighted average of $104.94 on 6,311 head. May corn is up 6 1/2 cents per
bushel and July soybean meal is up $4.90. The Dow Jones Industrial Average is
down 123.04 points and NASDAQ is down 137.58 points.
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