DTN Livestock Close: Cash Hogs, Pork Cutouts Score Solid Gains

    Photo: United Soybean Board

    Heading into Wednesday’s market, feedlots are hoping some technical support seeps into the live cattle contracts and aids the quest for higher cash cattle this week.

    GENERAL COMMENTS:

    The lean hog complex will be worth watching Wednesday as Tuesday’s market saw tremendous support from both the cash and cutout sectors. Along with watching the lean hog complex, seeing who wins in this week’s quest for more leverage will be a dandy between packers and feedlots.

    Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $5.59 with a weighted average of $107.68 on 10,410 head.

    May corn is down 3 1/4 cents per bushel and May soybean meal is down $4.50. The Dow Jones Industrial Average is up 254.47 points and NASDAQ is up 270.36 points.

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