DTN Closing Livestock Comment 02/09 16:09
9 Feb 2021
DTN Closing Livestock Comment 02/09 16:09 Livestock Contracts Desperate to Grind Higher With corn prices trailing slightly lower, the feeder cattle contracts jumped at the opportunity to trade higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Both the live cattle and lean hog contracts fought some pressure in their nearby contracts, but the rest of the contracts were left to trade modestly higher into closing. The feeder cattle contracts, however, shot higher upon Tuesday's bearish findings in the WASDE report for the corn market and closed well above $1.00 higher in the entire sector. Hog prices closed sharply higher on the National Direct Afternoon Hog Report, up $3.48 with a weighted average of $64.10 on 8,830 head. March corn is down 7 1/2 cents per bushel and March soybean meal is up $2.10. The Dow Jones Industrial Average is down 9.93 points and NASDAQ is up 20.06 points.