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Latin America
Cattle Futures Implode With Triple-Digit Losses
DTN Closing Livestock Comments 03/15 15:57
Cattle Futures Implode With Triple-Digit Losses
The cattle pit gapped lower on the opening and never looked back. Aggressive
selling in most pits was tied to long liquidation, demand worries and technical
selling. Lean hog contracts also closed sharply lower.
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS:
Light to moderate cash trading developed in feedlot country with most live
sales marked at $127, $1 lower than last week. The Northern dressed market was
also lower with most deals marked at $200 to $201, $2 to $3 weaker than the
previously established market. According to the closing report, the Iowa hog
base closed 1.46 lower compared with the prior day settlement ($60.00-$74.00,
weighted average $73.07). Corn futures settled higher, up 1/2 to 2 3/4 cents.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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