DTN Livestock Closing: Livestock Contracts Favor Bullishness Monday Afternoon

Cattle drinking at on-farm pond. Photo: Kansas State University

Feeder cattle contracts stormed through the day, closing easily $1.00 stronger throughout most of the complex.

GENERAL COMMENTS:

All three markets closed predominantly higher with the biggest resistance seen in the nearby live cattle contracts. Feeder cattle contracts didn’t bat an eye at trading throughout the day, and as the afternoon advanced, the lean hog complex became more favorable to producers. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.45 with a weighted average of $30.45 on 8,887 head. December corn is down 8 1/4 cents per bushel and December soybean meal is down $8.40. The Dow Jones Industrial Average is up 10.50 points and NASDAQ is down 226.60 points.

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