DTN Livestock Closing: Contracts Fading Lower

Photo: Kansas State University

Friday slowly rolled to a close and, although the contracts all closed lower, substantial gains were secured earlier in the week.

GENERAL COMMENTS:

It was a good week for the livestock contracts as steady gains were achieved early in the week and Friday’s weaker close didn’t deteriorate too much of the market’s position. Hog prices were lower on the National Direct Afternoon Hog Report, down $0.48 with a weighted average of $56.73 on 5,444 head. March corn is up 6 1/4 cents per bushel and January soybean meal is up $0.40. The Dow Jones Industrial Average is up 37.90 points and NASDAQ is up 111.45 points.

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