DTN Closing Livestock Comment 12/29 16:19
29 Dec 2020
DTN Closing Livestock Comment 12/29 16:19 Cattle Contracts Sink Lower Fearing Corn Prices Tuesday treated the lean hog market well, but unfortunately the cattle contracts can't say the same as both the live cattle and feeder cattle contracts closed lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Tuesday ended up being a mixed day for the livestock sector as cattle contracts veered lower, but the lean hog market successfully closed higher. Wednesday is going to be an important day for this week's cash cattle market, and by the looks of it a higher market is in play. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.24 with a weighted average of $50.06 on 10,050 head. March corn is up 9 1/2 cents per bushel and March soybean meal is up $11.60. The Dow Jones Industrial Average is down 68.30 points and NASDAQ is down 49.20 points.