DTN Closing Livestock Comment 02/24 16:21
Livestock Contracts Keep Gains Through Closing Wednesday
After trending lower throughout the earlier part of the week, the live
cattle contracts were thankful to close higher, and cash cattle sellers pray it
will boost the cash market before the week's end.
DTN Livestock Analyst
It was a day of higher closes throughout the livestock complex. Lean hogs
led the rally with the most gusto, but the cattle contracts were thankful to
have support, given the depressed state this week has presented. Hog prices
closed higher on the National Direct Afternoon Hog Report, up $2.53 with a
weighted average of $75.70 on 8,824 head. March corn is up 5 1/2 cents per
bushel and May soybean meal is up $1.30. The Dow Jones Industrial Average is up
424.51 points and NASDAQ is up 132.77 points.
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