Following in Monday’s tracks, the livestock complex closed higher again Tuesday afternoon.
The surge in oil prices helped fuel positivity throughout the marketplace and ensured that cattle contracts closed higher. Feedlots are thankful to see the board’s encouraged spirit as they patiently wait to move this week’s cash cattle market higher. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.45 with a weighted average of $57.87 on 8,290 head. March corn is down 3/4 cent per bushel and December soybean meal is up $3.40. The Dow Jones Industrial Average is up 454.57 points and NASDAQ is up 156.15 points.