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DTN Closing Livestock Comment 04/25 15:55
   Livestock Futures Down Triple Digits Thursday

   Traders reacted to the lack of pork sales to China by pushing most contract
months limit lower Thursday. The inability to continue aggressive sales notices
took the market by surprise. Cattle futures also continued shift lower

By Rick Kment
DTN Analyst

   GENERAL COMMENTS: Livestock futures tumbled from the early minutes of trade
Thursday with many contracts closing triple digits lower. A lack of reported
weekly pork trade to China led to limit losses in hog futures. Technical
pressure carried over from Wednesday's losses, pushing contracts through
support levels. Additional losses could be seen Friday as the market structures
remain weak. Cash cattle trade in the North started to develop Thursday morning
with additional volume expected to continue late in the day. Prices were seen
at $127 live and $205 dressed. This is generally $3 per cwt lower than last
week. Southern trade Wednesday was steady to $1 per cwt higher at $126 to $127
on most cattle sold. Although some additional numbers may develop Friday,
especially in the North, the tone of the market is expected to be set. It is
quite possible that trade in the South is done for the week, once again
following the trend over the last few weeks of moderate midweek trade
sufficient for packers needs. The National Daily Direct afternoon hog report
was $0.50 higher ($73.00 to $84.00, weighted average $81.24) on 7,384 head
sold. Corn futures were higher in light trade with July up 1 1/2 cents per
bushel. The Dow Jones Index was 121 points lower with Nasdaq up 18 points.
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