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Cattle Futures Close Moderately Lower, Pressured Further by Beef Demand
DTN Closing Livestock Comments 03/22 15:59
Cattle Futures Close Moderately Lower, Pressured Further by Beef Demand
Worries
The cattle complex settled moderately lower, pressured by uninspiring
fundamentals and technical selling. On the other hand, lean hog contracts
closed narrowly mixed with modest progress limited to far deferreds.
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS:
From Friday to Friday, livestock futures scored the following changes: April
LC, up .43; June LC, off .13; Mar FC, off 2.02; May FC, off .82; April LH, off
1.62; June LH, up .40 The cash cattle trade was very slow to close the week
with just a few clean-up deals noted in parts of the South. A few steers and
heifers were marked in Kansas and Texas at $125, steady with the early week
decline and $2 lower than last week's weighted average. According to the
closing report, the Iowa hog base closed 1.85 lower compared with the Prior Day
settlement ($68.50-$72.00, weighted average $70.57). The corn market closed
lower, down 6 3/4 in the May, down 8 3/4 in the July and down 1 1/2 in the
September.
View All Market Commentary
*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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