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DTN Closing Livestock Comment 04/17 15:46
Cattle Run Out of Steam on Wednesday
Heading into Thursday's trade, cattlemen hope traders find better support
and livestock participants want a strong export report.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The cattle complex ran out of support Wednesday as traders looked for a
strong fundamental reason why they should continue to advance the contracts.
Upon seeing none, both the live cattle and feeder cattle contracts closed
slightly lower. Meanwhile, the lean hog market closed slightly higher and hog
fans hope Thursday's export report is again fruitful. Hog prices closed higher
on the Daily Direct Afternoon Hog Report, up $0.09 with a weighted average
price of $89.13 on 8,416 head. May corn is down 3/4 cent per bushel and May
soybean meal is up $3.40. The Dow Jones Industrial Average is down 45.66 points.
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