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DTN Closing Livestock Comment 04/16 15:29
   Buyers Sweep Into Cattle Futures

   Cattle futures saw strong gains Tuesday as early market apathy quickly
sparked buyer interest. Live cattle and feeder cattle futures shifted $1 per
cwt higher in several nearby contract months.

By Rick Kment
DTN Analyst


   Buyer support steadily moved into cattle markets Tuesday, leading to firm
gains in live cattle and feeder cattle futures. Lean hog trade was mixed with
moderate pressure in nearby contracts offset by triple-digit gains in deferred
contracts. Cash cattle activity remained quiet with bids still undeveloped and
likely to remain that way until Wednesday or later. A few asking prices have
started to trickle in with live cattle priced at $130 per cwt, while $208 seems
to be the desired dressed prices. Although most trade is expected to be pushed
to Thursday or Friday, trade on Wednesdays has become common over the last few
weeks, and could spark some interest. The National Daily Direct afternoon hog
report was $0.73 higher ($70-$79.25, weighted average $77.30) on 8,521 head
sold. Corn futures were lower in light trade with May down 3 3/4 cents per
bushel. The Dow Jones Index was 48 points higher with the Nasdaq up 16 points.
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