DTN Livestock Close: Onward and Forward to Higher Prices

Snow falls on stocker cattle in wheat pasture near Amarillo. While the winter has been dry, El Niño remains strong, and wetter conditions are returning, according to Dr. John Nielsen-Gammon, state climatologist and Regents Professor at Texas A&M University, College Station. (Texas A&M AgriLife Communications photo by Kay Ledbetter)

Livestock contracts close mostly higher as support continues to build and demand drives the pork and beef industries.

GENERAL COMMENTS:

Another strong close for the livestock complex as all three sectors were able to close higher and are sitting in a fine position to end the week fully higher as well. Seeing that Wednesday has come and gone, and cash cattle interest is building, everyone starts to eye higher prices for fat cattle this week too.

Cash hog prices are higher on the National Direct Afternoon Hog Report, up $0.19 with a weighted average of $49.83.

March corn is down 2 1/2 cents per bushel and March soybean meal is up $0.80. The Dow Jones Industrial Average is up 115.84 points and NASDAQ is up 84.44 points.

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