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DTN Closing Livestock Comment 04/22 15:39
Traders Push the Livestock Contracts Higher through Tuesday's Close
Still no cash cattle trade has developed, and trade will likely be delayed
until Thursday or Friday.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
It was a rallying day for the livestock contracts as all three of the
markets were able to close fully higher. But some pressure could develop on
Wednesday for the cattle contracts as boxed beef prices did close lower Tuesday
afternoon and resistance levels are looming for both the live cattle and feeder
cattle markets. May corn is down 2 cents per bushel and May soybean meal is
down $1.10. The Dow Jones Industrial Average is down 527.16 points.
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