DTN Livestock Closing: Cash Cattle Moves Higher

Cattle feeding. Photo: ©Debra L Ferguson

Cash Cattle Moves Cattle Futures Higher Again

Wednesday closed as another strong day for cattle contracts while the lean hog complex close mixed.

GENERAL COMMENTS:

Wednesday’s Fed Cattle Exchange ignited a strong cash cattle market that eventually carried into the major feeding states. Cash cattle trade was anticipated to be stronger again this week, but $4.00 higher came as a bit of a surprise. Thankfully the cattle contracts have been able to move the board with the cash market’s rally.

The lean hog complex close mixed with some contracts in the first quarter of 2021 pushing higher. Hog prices were higher on the National Direct Afternoon Hog Report, up $0.26 with a weighted average of $37.69 on 4,736 head. December corn is up 3 3/4 cents per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is up 289.93 points and NASDAQ is up 229.42 points.

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