DTN Livestock Close: Technical Support, Higher Meat Prices Boost Futures

    ©Debra L Ferguson Stock Photography

    Livestock futures all closed higher Wednesday amid excellent technical interest and fundamental interest, as both pork and beef prices jumped.

    GENERAL COMMENTS:

    It was a strong day throughout the livestock contracts as the entire marketplace closed higher. It was especially surprising to see the feeder cattle contracts close higher amid the corn market’s jump in prices well above $6.00 a bushel.

    Hog prices closed higher on the National Direct Afternoon Hog Report, up $4.09 with a weighted average of $70.28 on 9,911 head.

    March corn is up 11 cents per bushel and March soybean meal is up $8.20. The Dow Jones Industrial Average is down 339.82 points and NASDAQ is down 166.64 points.

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