DTN Livestock Closing: Cattle Contracts Rally

Photo: Texas AgriLife Extension

Cattle Contracts Came to Do Business, Lean Hog Rally Fell Lower

The cattle contracts took Tuesday and rallied throughout the day, but unfortunately, as the cattle contracts grew in strength, the interest in the lean hog market dwindled.

GENERAL COMMENTS:

Cattle contracts weren’t in a lackadaisical mindset heading into Tuesday’s trade as both live cattle and feeder cattle contracts made significant progress. The feeder cattle contracts will be pressured Wednesday as the market bounces around a resistance level, not seeming to have a good feel for what direction trade should be heading in.

Hog prices closed lower on the National Direct Afternoon hog report, down $1.01 with a weighted average of $37.42 on 12,390 head. December corn is up 1/2 cent per bushel and December soybean meal is down $0.10. The Dow Jones Industrial Average is down 104.53 points and NASDAQ is down 185.54 points.

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