DTN Closing Livestock Comment 03/02 16:08
2 Mar 2020
DTN Closing Livestock Comment 03/02 16:08 Support Stayed Through Closing Thankfully livestock contracts were able to hold onto the support that opened with the market Monday morning. By Rick Kment DTN Analyst GENERAL COMMENTS: Before we all jump up and down and shout from the rooftops that the markets closed higher, we need to be cautious and unemotional, like we constantly preach. Trends take time to be established in the marketplace, and although the day closed mostly higher, that doesn't mean the market is in the free and clear. The market could very easily be hit with another coronavirus headline that could send markets lower and reverse the day's gains by the first bell of Tuesday morning. Taking the day for what it is, is important, and we must be cautious not to read more into the present than what is. Hog prices closed lower on the National Direct Daily Hog Report, down $0.41 with a weighted average of $50.20. May corn is up 7 1/4 cents per bushel and May soybean meal is up $3.30. The Dow Jones Industrial Average is up 1,293.96 points and NASDAQ is up 384.79 points.