DTN Closing Livestock Comment 01/06 16:11
6 Jan 2020
DTN Closing Livestock Comment 01/06 16:11 Price Jump Carries Into Close Cattle contracts held their ground through closing and were even able to stimulate lean hog contracts into a mostly positive trading range. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Welcoming the first full week of trade of 2020 with a bang, cattle contracts jumped higher, captured opportunity and now look toward a new day. Lean hog contracts were mostly quiet as the attention grew toward the cattle contracts. But as next week is the signing of phase one of a trade agreement with China, lean hog contracts will have time to trade in no time. Hog prices are lower on the National Direct Afternoon Hog Report, down $0.18 with a weighted average of $50.33. March corn is down 1 3/4 cents per bushel, and March soybean meal is up $1.70. The Dow Jones Industrial Average is up 68.50 points, and the NASDAQ is up 50.69 points.