DTN Closing Livestock Comment 02/03 16:06
3 Feb 2021
DTN Closing Livestock Comment 02/03 16:06 Waiting on Export Numbers and Cash Cattle Trade Wednesday's livestock contracts closed mostly higher for both the live cattle and lean hog contracts, but the corn market's rally pushed the nearby feeder cattle contracts lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock contracts saw some contracts close lower here and there, but largely it was another day of supported business throughout the livestock sector. The lean hog market saw exceptional support with a robust cash trade. If Thursday's export data can share favorable data, then the market will once again get the fundamental backing it needs to continue its technical surge. Hog prices closed sharply higher, up $3.50 on the National Direct Afternoon Hog Report equating to a weighted average of $61.94 on 8,204 head.