DTN Livestock Closing: Cattle Keep Momentum

    Cattle feeding. Photo: ©Debra L Ferguson

    Cattle Keep Momentum Through Closing Tuesday

    Cattle contracts kept the market moving higher throughout the day’s close and hope to see the cash market follow suit later in the week.

    GENERAL COMMENTS:

    It was a strong day for the cattle contracts as both the live cattle market and feeder cattle markets were able to close higher. Looking at boxed beef prices and seeing some positive gains in price along with a considerable movement of supply, bull-spreaders are eager about the nearby market. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.02 with a weighted average of $64.08 on 7,086 head. December corn is down 2 cents per bushel and December soybean meal is down $2.00. The Dow Jones Industrial Average is down 131.40 points and NASDAQ is down 32.27 points.

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