DTN Closing Livestock Comment 11/17 15:55
17 Nov 2020
DTN Closing Livestock Comment 11/17 15:55 Deferred Hog Contracts Lead Tuesday's Gains Live cattle, feeder cattle and especially lean hog futures all managed to hold onto impressive gains throughout the Tuesday trading session. Elaine Kub Contributing Analyst Livestock futures contracts, particularly deferred contracts, were boosted Tuesday by a lower U.S. dollar and consolidating charts that were friendly to some upward movement as long as it didn't retest last week's highs. The bullishness for mid-2021 lean hog contracts above $80 was likely tied to a long-term outlook for continued strong export prospects. In the here and now, hog prices closed lower on the National Direct Afternoon Hog Report, off $0.24 with a weighted average of $58.66 on 10,459 head. December corn closed up 4 cents per bushel and December soybean meal closed up $6.50 per ton. The Dow Jones Industrial Average is down 167.09 points and NASDAQ is down 35.89 points.