DTN Closing Livestock Comment 12/09 16:21
9 Dec 2020
DTN Closing Livestock Comment 12/09 16:21 Support Sticks Through Closing for Livestock Contracts Wednesday ended up being a better day than anticipated as support grew stronger throughout the afternoon. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Whether or not support was going to develop was shaky Wednesday morning, but around the noon hour traders continued to invest and the market's support solidified. Fundamental factors are weighing on the live cattle market, but other than the spot December contract, even the live cattle contracts were able to close stronger. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.32 with a weighted average of $55.03 on 7,455 head. March corn is up 4 cents per bushel and January soybean meal is up $2.20. The Dow Jones Industrial Average is down 105.07 points and NASDAQ is down 243.82 points.