DTN Closing Livestock Comment 01/20 16:10
Lean Hogs Demand Support and Close Fully Higher
Wednesday's marketplace was a mixed bag as both the lean hog and feeder
cattle contracts enjoyed ample support and closed fully higher, but the same
can't be said for the live cattle market.
DTN Livestock Analyst
Tuesday's problem in the lean hog complex was that the market's fundamentals
neglected to support the board, but low and behold, the lean hog market was met
with ample support and close fully higher Wednesday. Meanwhile, the cattle
contracts closed mixed with feeder cattle still enjoying their opportunity to
retake some positioning, while the live cattle contracts were pressured to
scale lower. Hog prices closed higher on the National Direct Afternoon Hog
Report, up $0.82 with a weighted average of $55.08 on 14,768 head. March corn
is down 4 cents per bushel and March soybean meal is down $8.10. The Dow Jones
Industrial Average is up 257.86 points and NASDAQ is up 260.07 points.
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