DTN Closing Livestock Comment 03/13 15:35
Livestock Complex Continues to Look for Improved Fundamentals
With stress looming over the livestock complex, increased fundamental
support is what traders want to see.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex closed mixed Friday afternoon as traders simply need
to see better fundamental support before they'll confidently push the contracts
higher. The big news that will likely rock the cattle complex on Monday is
whether the expected plant strike happens at Greeley, Colorado, as JBS and the
union laborers haven't agreed on a contract yet. May corn is up 4 3/4 cents per
bushel and May soybean meal is up $2.50. The Dow Jones Industrial Average is
down 119.38 points and the NASDAQ is down 206.62 points.
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