DTN Livestock Closing: Lean Hogs Keep Scrapping for More

Photo: Blair Fannin, Texas AgriLife Extension

Looking at Wednesday’s trade and what may come, all eyes will continue to watch the lean hog market as it keeps batting home runs, seemingly unafraid of the elevated levels its trading at.

GENERAL COMMENTS:

The cattle contracts face uncertain bearish pressure, but the lean hog complex fired higher throughout Tuesday’s trade, rallying on both the futures market and cash hog trade. Hog prices shot higher Tuesday afternoon on the National Direct Afternoon Hog Report, up $2.65 with a weighted average of $73.17 on 7,155 head. March corn is up 2 3/4 cents per bushel and March soybean meal is up $3.40. The Dow Jones Industrial Average is up 15.66 points and NASDAQ is down 67.85 points.

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