DTN Closing Livestock Comment 12/02 16:13
Cattle Keep Momentum Through Closing Wednesday
Wednesday was a mixed day for the livestock sector as cattle contracts
successfully closed higher, but the lean hog complex was left to close lower.
DTN Livestock Analyst
Early Wednesday morning it didn't look like it was going to be a promising
day for the livestock complex as all three markets were trading lower. But as
time went on, traders warmed up to the cattle contracts and supported the
market enough to allow both the live cattle and feeder cattle markets to close
fully higher. Hog prices closed lower on the National Direct Afternoon Hog
Report, down $0.12 with a weighted average of $56.64 on 8,787 head and a
five-day rolling average of $56.67. March corn is up 3 cents per bushel and
January soybean meal is down $4.60. The Dow Jones Industrial Average is up
59.87 points and NASDAQ is down 5.73 points.
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