DTN Closing Livestock Comment 12/22 16:12
22 Dec 2020
DTN Closing Livestock Comment 12/22 16:12 Cattle Sink Lower While Hogs Battle for a Higher Close Tuesday's market was mostly uneventful with cattle contracts trading lower and cash cattle trade yet to really test the market, but the lean hog market was able to close slightly stronger. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a downward sliding day for the cattle contracts, but the lean hog market was able to secure a slightly higher close right before the day's end. Wednesday's trade is expected to be quiet, without a lot of action developing, but the countryside will be busy with the week's cash cattle trade and the unveiling of the Quarterly Hogs and Pigs report. Hog prices closed $0.60 higher on the National Direct Afternoon Hog Report with a weighted average of $51.40 on 9,161 head. March corn is up 3 1/2 cents per bushel and March soybean meal is up $2.20. The Dow Jones Industrial Average is down 200.94 points and NASDAQ is up 65.40 points.