DTN Livestock Close: Weakness Develops in Futures

    Photo: Blair Fannin, Texas AgriLife Extension

    Active pressure developed in livestock trade with lean hog futures leading the complex lower. Although cattle markets avoided triple-digit losses, the active shift lower in nearby live cattle contracts is causing some uncertainty through the week.

    GENERAL COMMENTS:

    Sharp losses developed in live cattle and lean hog futures Thursday afternoon. Following a move below initial support prices in nearby hog trade Wednesday, active market liquidation developed, pushing nearby prices another $2 to $3 per cwt lower through the Thursday session. Live cattle losses didn’t match the pressure of hog trade, but still worked lower the session.

    Hog prices moved lower on the National Direct Afternoon Hog Report in moderate trade, falling $1.50 with a weighted average of $65.43 on 7,858 head.

    December corn is down 9 cents per bushel and December soybean meal is down $4.40 per ton. The Dow Jones Industrial Average is down 6 points and NASDAQ is up 94 points.

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