DTN Livestock Close: Cattle Storm Higher

    ©Debra L Ferguson Stock Photography

    Both the live cattle and feeder cattle contracts had a stellar day, but the lean hog market continued to slide lower as packers look for a hungry buyer.

    GENERAL COMMENTS:

    The market may have been slow at finding all the bullish support that Friday’s Cattle on Feed report had in store for the complex, but come Tuesday, the cattle contracts shot noticeably higher. The big question for the week now is whether or not cash cattle prices are going to see the same kind of gusto overtake its market.

    Hog prices closed $0.15 higher on the National Direct Afternoon Hog Report, up $0.15 at $63.81 on 7,615 head.

    December corn is up 5 1/2 cents per bushel and December soybean meal is down $0.30. The Dow Jones Industrial Average is up 15.73 points and NASDAQ is up 9.01 points.

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