DTN Closing Livestock Comment 02/04 16:23
4 Feb 2021
DTN Closing Livestock Comment 02/04 16:23 Livestock Contracts Surge Higher Before Closing Early in the day it looked like the livestock complex had run out of steam as the contracts were trading lower, but as time went on support resurfaced and led the livestock contracts to a higher close. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex traded back and forth throughout the early part of Thursday but as closing grew near, traders decided to invest once again in the contracts. The cash cattle market has only been lightly tested which means that once again, Friday's business will be crucial for the cash cattle market this week. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.78 with a weighted average of $61.16 on 6,566 head. March corn is down 2 cents per bushel and March soybean meal is down $2.40. The Dow Jones Industrial Average is up 332.26 points and NASDAQ is up 167.20 points.