CattleLink Market View 4/30/2021 | 3:07 PM CDT Live Cattle: The live cattle contracts rounded out last week on a positive note, though most of the week's trade was pressured lower. The cash cattle market again neglected to summon higher prices, and of the cattle that sold, a large majority of them sold with time. Feeder Cattle: The feeder cattle contracts couldn't seem to muster any support while the live cattle complex traded lower and corn prices kept veering higher. Until the corn market stabilizes, the feeder cattle contracts are pressured by their rising cost of gains. Lean Hogs: The lean hog contracts chopped sideways throughout the week, but come Friday, the contracts jumped higher and tested resistance levels as the market continues to be supported by exceptional demand amid tight supplies. Soybean Meal: July soybean meal finished up $0.30 per ton this week, pressured by a correction in soybeans and the fall in South American meal basis levels. Corn: July corn futures rose sharply to a 40 3/4-cent gain for the week, as the expanding drought situation in Brazil's winter corn area and a surging U.S. basis supported futures. (c) Copyright 2021 DTN, LLC. All rights reserved. |
0 comments:
Post a Comment