DTN Livestock Close: Futures Finish Stronger Than Expected

    ©Debra L Ferguson Stock Photography

    Tuesday’s close was better than what was expected around the noon hour; cattle prices rebounded modestly in some contracts all while hog issues surged higher.

    GENERAL COMMENTS:

    Tuesday’s cattle futures opened higher, fell lower and then picked up right before closing higher in most contracts. Lean hog markets had a huge day with significant price gains and aggressive slaughter.

    Hog prices are higher on the National Direct Afternoon Hog Report, up $1.08 with a weighted average of $59.24.

    December corn is down 4 1/2 cents per bushel and December soybean meal is down $3.10. The Dow Jones Industrial Average is up 236.90 points and NASDAQ is up 100.05 points.

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