DTN Closing Livestock Comment 05/14 15:26
Traders Shifted Gears After Midday Wednesday
Traders were back and forth on which way they should trade the cattle
complex throughout Wednesday's duration.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The cattle contracts dipped into new territory ahead of Wednesday's noon
hour, but as the afternoon traded on, traders grew leery of overly supporting
the contracts and let both the live cattle and feeder cattle contracts close
sharply lower. Still no cash cattle trade has developed. May corn is up 2 1/2
cents per bushel and May soybean meal is down $0.50. The Dow Jones Industrial
Average is down 89.37 points and the NASDAQ is up 136.73 points.
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