DTN Closing Livestock Comment 02/12 16:23
12 Feb 2021
DTN Closing Livestock Comment 02/12 16:23 Higher Closes for the Livestock Contracts Friday Before the week's end, the livestock contracts shot higher as support for the marketplace is strong. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Friday's market came as both a blessing and a slight disappointment. It was great to see the futures market close higher in the live cattle, feeder cattle and lean hog contracts, but the lack of participation in the cash market wasn't what feedlots had hoped for. The beautiful thing about this time of year is that, as always, cattle are a cash asset, and with temperatures as cold as they are, feedlots don't have to worry too much about carcass weights, so feedlots can continue to roll their cattle over into the next week and aim for higher prices again. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.42 with a weighted average $65.38 on 6,885 head. March corn is down 2 1/4 cents per bushel and March soybean meal is down $1.70. The Dow Jones Industrial Average is up 28.29 points and NASDAQ is up 69.70 points.