DTN Closing Livestock Comment 12/28 16:20
28 Dec 2021
DTN Closing Livestock Comment 12/28 16:20 Higher Cash Cattle Prices Rally Cattle Contracts Tuesday was a great day for the cattle market as support from a rallying cash market pushed both the live cattle and feeder cattle futures higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: As the markets rounded the corner of the noon hour Tuesday, support appeared from the cash cattle market in the afternoon with Northern feedlots able to push the market $3.00 higher and cattle futures rallied through the day's close. Meanwhile the lean hog complex still felt some pressure in its nearby contracts but still closed mostly higher. Hog prices closed higher on the National Direct Afternoon Hog Report, up $2.02 with a weighted average of $61.77 on 7,160 head. March corn is down 10 cents per bushel and March soybean meal is up $0.80. The Dow Jones Industrial Average is up 95.83 points and NASDAQ is down 89.54 points.