DTN Livestock Closing: Contracts Closing Higher

Cattle feeding. Photo: ©Debra L Ferguson

Livestock Contracts Close Surprisingly Higher

Even though the complex is trading into a shortened holiday week, all three livestock futures markets traded higher.

GENERAL COMMENTS:

Monday was better than initially assumed as all three livestock futures markets were able to close the day stronger. Holiday weeks are typically problematic as trade is off-balanced and traders are usually checked out for a long weekend with little interest in really moving the market. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.18 with a weighted average of $28.48 on 6,201 head. July corn is up 9 1/4 cents per bushel and July soybean meal is down $1.60. The Dow Jones Industrial Average is up 580.25 points and NASDAQ is up 116.93 points.

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