DTN Closing Livestock Comment 12/16 16:18
16 Dec 2020
DTN Closing Livestock Comment 12/16 16:18 Live Cattle Contracts Keep Support Through Closing Wednesday The livestock contracts closed mixed, with the cattle contracts finding the support necessary to close higher and the lean hog market left to wane lower as traders look for fundamental support to complement the market's recent incline. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Wednesday was the boost of energy that the live cattle contracts needed and was a shot of hope for southern feedlots that are yet to sell cattle this week. Meanwhile, the feeder cattle market kept rallying in its typical, confident fashion this week, but the lean hog contracts wound up short on trader interest and closed lower in nearby contracts. Hog prices were unchanged on the National Direct Afternoon Hog Report, steady with a weighted average of $53.64 on 10,816 head. March corn is up 2 1/2 cents per bushel and January soybean meal is up $6.30. The Dow Jones Industrial Average is down 44.77 points and NASDAQ is up 63.13 points.