DTN Closing Livestock Comment 02/07 16:11
7 Feb 2022
DTN Closing Livestock Comment 02/07 16:11 Live Cattle Seeking Fundamental Support The lean hog contracts rallied higher as supplies of market-ready hogs aren't anticipated to become ample anytime soon. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The markets closed mixed with the lean hog contracts rallying higher yet again. But the cattle contracts lost some of their muster through Monday's market. Heading into Tuesday, feedlots should post their asking prices for the week, and most are assuming that they will try to push the market higher again this week while the opportunity lasts. Hog prices closed lower on the National Direct Afternoon Hog Report, down $9.35 with a weighted average of $74.52 on 7,209 head. March corn is up 14 3/4 cents per bushel, and March soybean meal is up $8.90. The Dow Jones Industrial Average is up 1.39 points, and the NASDAQ is down 82.34 points.