DTN Closing Livestock Comment 03/03 16:06
Mixed Wednesday for Livestock Contracts
The futures market closed mostly higher, but unfortunately couldn't spark
any positive momentum in the cash cattle market.
DTN Livestock Analyst
It was a mixed market for livestock enthusiasts as cash cattle sellers don't
like the prices that surfaced, but the feeder cattle and lean hog contracts
were delighted to trade higher. Thursday's export report could heavily wane on
the hog complex if it's as bearish as last week's. Hog prices closed higher on
the National Direct Afternoon Hog Report, up $1.82 with a weighted average of
$82.75 on 7,135 head. May corn is down 9 3/4 cents per bushel and May soybean
meal is down $2.90. The Dow Jones Industrial Average is down 121.43 points and
NASDAQ is down 361.04 points.
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