DTN Closing Livestock Comment 12/13 16:07
13 Dec 2021
DTN Closing Livestock Comment 12/13 16:07 Cattle See Support in Monday's Market Heading into Tuesday's trade, the lean hog contracts are hopeful that the futures market might turn a little more favorable than what Monday had to offer. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle complex saw decent technical support in Monday's market, while the lean hog market wasn't that fortunate. The tough part about the rest of the year is going to be keeping cash cattle prices from falling lower as packers have cattle committed to the deferred delivery, which means they won't have to support the cash market much in the weeks to come. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.86 with a weighted average of $58.55 on 5,539 head and a five-day rolling average of $59.90. March corn is down 5 cents per bushel and January soybean meal is down $4.70. The Dow Jones Industrial Average is down 320.04 points and NASDAQ is down 217.32 points.