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DTN Closing Livestock Comment 04/20 16:28
   Cattle Complex Starts Week With Bearish Implosion

   Live and feeder cattle futures crashed hard right out of the gate, gapping
sharply lower thanks to aggressive long liquidation and technical selling. The
lean hog pit settled moderately lower, checked by profit taking and spillover
selling from the beef pits.

By Rick Kment
DTN Analyst



GENERAL COMMENTS:

   Activity in the cash cattle arena was limited to the distribution of
showlists, The new offering looks generally larger than last week, especially
in Nebraska. Some showlists were priced around $163 in the South and $262-plus
in the North. According to the closing report, the Iowa hog base closed $0.66
higher compared with the Prior Day settlement ($55.00-$63.50, weighted average
$62.64). Corn futures closed several cents lower with spring rains at this
point seen as more positive for production potential than not. Equities closed
sharply higher amid an unexpected stimulus from China's central bank as
investors kept eyeing corporate earnings. The Dow closed 208 points higher with
the Nasdaq in the black by 62.
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