DTN Livestock Close: Futures Hold Light Gains

Livestock traders seemed to take a breather as they returned from the weekend. Most futures contracts saw limited gains in light-volume trade Monday.

GENERAL COMMENTS:

Narrow trading ranges defined most of the trading session Monday with most nearby cattle and hog futures contracts holding light-to-moderate gains. Long-term support remains rooted in hog futures with traders focusing on strong demand through the end of the year.

Cash cattle markets remain undeveloped Monday with bids and asking prices likely to be delayed until the middle of the week. Although both sides probably want to wrap up business by Thursday before Good Friday, trade may be delayed until the second half of the week.

The National Daily Direct afternoon hog report was $0.13 higher ($67-$78.50, weighted average $76.38) on 8,312 head sold.

Corn futures were higher in light trade with May up 1 3/4 cents per bushel. The Dow Jones Index was 27 points lower with the Nasdaq down 8 points.

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