DTN Ag Host Midday Livestock

Cattle futures started the day with follow-through buyer support trickling into the market. Following the aggressive market gains earlier in the week, traders seem to be still optimistic, but much less aggressive as the week comes to a close. With markets closed Friday due to the Easter Holiday break, late-day pressure may continue to trickle into most contract months, with traders focusing more on position squaring before the three-day weekend, rather than additional market adjustments based on demand or outside market indicators. Live cattle futures remain slightly higher, but have backed away from early highs, while feeder cattle futures are mixed in limited trade at midday. Hog futures are also steady to moderately lower at midday as traders continue to see very little fundamental or technical market shifts developing in the market ahead of the closed trading day Friday. May corn is down 1 3/4 at $4.525 and May soybean meal is down $4.20 at $314.00. The Dow Jones Industrial Average is down 188.30 at 46,377.44.