DTN Closing Livestock Comment 03/17 15:41
Livestock Futures Close Mostly Lower but Cattle on Feed Report was Supportive
Heading into Monday's market, cattlemen are hopeful that traders will
continue to lean into the market's strong fundamentals and trade Friday's
supportive Cattle on Feed report.
DTN Livestock Analyst
Friday's market closed with the same lower tones that it possessed
throughout most of the week as traders are still leery about the U.S. economy
and banking systems. However, cattlemen were thankful to see a supportive
Cattle on Feed report shared Friday afternoon and now hope that it helps spur
on stronger trade early next week. Hog prices closed lower on the Daily Direct
Afternoon hog report, down $1.22 with a weighted average of $77.61 on 4,456
hogs. May corn closed up 1 1/2 at $6.343 and May soybean meal closed down $8.00
at $466. The Dow Jones Industrial Average is down 384.57 at 31,861.98.
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