DTN Closing Livestock Comment 04/22 15:47
Active Selling Developed Monday
Market weakness quickly developed in cattle and hog futures Monday. This
softness focused on growing cattle supplies and concern that long-term pork
demand will be unable to meet previous hopes.
By Rick Kment
GENERAL COMMENTS: Strong triple-digit losses quickly developed in all
livestock futures trade Monday. Lean hog futures posted aggressive nearby
losses as summer contracts saw pressure of $2 per cwt or greater during the
session. Concerns that recent gains may not be able to be sustained even with
strong export demand is eroding buyer support. Cattle traders have adjusted
positions following increased feedlot supplies in March. Corn futures are lower
in light trade. May futures fell 3 3/4 cents per bushel. Dow Jones Index is 54
points lower with Nasdaq up 8 points.
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