DTN Closing Livestock Comment 12/18 16:06
18 Dec 2019
DTN Closing Livestock Comment 12/18 16:06 Livestock Contracts Close Slightly Lower Again Lean hog contracts started to show more support through the closing whistle, while cattle contracts kick back and relax, waiting for cash cattle to test the water this week. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Since Friday's rally, livestock contracts haven't been able to make headway one way or another. Friday's rally was a nice boost to the market in a time when trade wasn't expected to really amount to anything, but the market's current lackluster nature shouldn't come as a surprise as support is limited, cumulative trade volume is sparse and the upcoming 2020 is welcomed by all. Hog prices on the National Direct Afternoon Hog Report are lower, down $0.10 with a weighted average of $48.02. March corn is down 3 cents per bushel and January soybean meal is up $0.60. The Dow Jones Industrial Average is down 27.88 points and NASDAQ is up 4.37 points.