DTN Closing Livestock Comment 02/22 16:17
22 Feb 2021
DTN Closing Livestock Comment 02/22 16:17 Lean Hogs and Feeder Cattle Grab for More It was a stellar day for the lean hog and feeder cattle contracts as the markets jumped to Monday's opportunity and didn't squander the chance to add to the market's position. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a great day for both the lean hog and feeder cattle contracts, but the live cattle market has too many floating variables right now to close confidently higher. Even with corn prices scaling $0.08 to $0.09 higher, the feeder cattle contracts felt enough countryside-demand to close higher and saw significant gains on the CME Index. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.30 with a weighted average of $70.52 on 7,072 head. March corn is up 8 1/4 cents per bushel and March soybean meal is down $1.20. The Dow Jones Industrial Average is up 27.37 points and NASDAQ is down 341.41 points.