DTN Closing Livestock Comment 03/23 16:17
23 Mar 2021
DTN Closing Livestock Comment 03/23 16:17 Livestock Contracts Score a Higher Close Tuesday The livestock contracts had an exceptional day as the contracts went to higher closes and fundamental support fully drives this upward spring. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a great day for the livestock contracts as the market performed exceptionally well and allowed for advancements throughout the live cattle, feeder cattle and lean hog contracts. The biggest drivers for the market's upward surge is the demand for the pork market and the exciting feeling that there may be a cash cattle rally brewing if boxed beef prices keep scaling higher. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.20 with a weighted average of $91.47 on 7,654 head. May corn is up 2 1/4 cents per bushel and May soybean meal is up $2.20. The Dow Jones Industrial Average is down 308.05 points and NASDAQ is down 149.84 points.