DTN Closing Livestock Comment 02/08 16:12
8 Feb 2021
DTN Closing Livestock Comment 02/08 16:12 Livestock Contracts Close Mixed With Corn Pressuring Feeders Live cattle and lean hog futures had an great day, continuing to strengthen their positions as the markets are supported both fundamentally and technically. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a good start to the week for the lean hog and live cattle futures, but the feeder cattle can't say the same. With corn prices shooting higher, feeder contracts were pressured to trade lower as cost of gain became even higher than before. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.71 with a weighted average of $60.62 on 3,161 head. March corn is up 15 1/4 cents per bushel and March soybean meal is up $6.10. The Dow Jones Industrial Average is up 237.52 points and NASDAQ is up 131.34 points.