DTN Livestock Close: Cattle Hold Positive Momentum

Cattle contracts were able to keep the momentum through closing and drew attention steadily throughout the complex Wednesday.

GENERAL COMMENTS:

Cattle contracts thankfully closed higher, but it comes as a mixed bag as cash prices fell lower again Wednesday afternoon and dropped weekly prices to as much as $3.00 lower compared to last week. However, seeing traders interested in the cattle contracts is positive as it’s been a long and bumpy road with the last couple of weeks of downward trade.

Hog prices are lower on the National Direct Afternoon Hog Report, down $1.53 with a weighted average of $48.34.

March corn is up 3 1/4 cents per bushel and March soybean meal is up $0.90. The Dow Jones Industrial Average is up 275.08 points and NASDAQ is up 87.02 points.

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