DTN Closing Livestock Comment 03/15 16:12
15 Mar 2021
DTN Closing Livestock Comment 03/15 16:12 Cattle Close Higher While Hogs Feed Technical Pressure Looking to Tuesday, the lean hog market sits torn on whether the market should trade higher or wave its white flag and trade lower. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a rewarding day for the cattle contracts, as both the live cattle and feeder cattle contracts were able to defend their stronger positions through closing. Meanwhile, the lean hog market has some decisions ahead of itself as the technical side of the market is encouraging lower trade, but the market's fundamentals are roaring higher again. Hog prices closed higher the National Direct Afternoon Hog Report, up $3.00 with a weighted average of $87.40 on 8,369 head and a five-day rolling average of $85.74. May corn was up 10.50 cents, closing at $5.4950. May soybeans were up 6 1/4 cents, closing at $14.195. The Dow closed up 174.82 points at 32,953.46 and the NASDAQ closed up 139.85 points at 13,459.71.