What Will Monday Bring?
Livestock contracts closed the week with strong gains and head into next week hoping that same support will be available.
If you thought you were going to be able to skip into the weekend, happy-go-lucky, without a care in the world from the massive gains livestock futures made this past week think again friend! Good analysts make sure to give credit where credit is due but don’t turn a blind eye to what’s lurking around the corner.
With both live and feeder cattle futures able to trade with expanded limits come Monday morning, there could be some volatility with the new week, unfortunately. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.56 with a weighted average of $55.46 on 4,960 head. March corn is down 23 3/4 cents per bushel and March soybean meal is down $16.60. The Dow Jones Industrial Average is down 179.03 points and NASDAQ is up 12.14 points.