DTN Closing Livestock Comment 03/19 15:29
Feeder Cattle Futures Surge Higher
Underlying support moved back into feeder cattle trade Tuesday. April
futures tested short-term resistance levels, sparked by supply concerns and
adverse weather conditions.
By Rick Kment
GENERAL COMMENTS: Strong buyer support is moving through cattle trade with
feeder cattle futures posting strong triple-digit gains in several contracts.
The underlying support helped spark buying into live cattle markets, despite
the lack of active support. Hog futures eroded, as position taking focused on
adjusting price levels after strong earlier gains. Corn futures are lower in
light activity. May futures fell 1/4 cent per bushel. Dow Jones Index is 29
points lower with Nasdaq up 9 points.
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