DTN Closing Livestock Comment 11/29 16:30
Mixes Tones Push Cattle Higher While Keep Hogs Trending Lower
It was another mixed day for the livestock market as cattle rallied on
cheaper corn prices and the strong nature of the cash market while the lean hog
complex closed lower.
DTN Livestock Analyst
The livestock complex closed mixed with the cattle contracts rallying as the
nearby corn contracts closed lower and with the hope that the cash sector will
trade higher again this week. Meanwhile, the lean hog market closed lower with
pork demand not showing traders enough assurance to push prices higher. Hog
prices are unavailable on the Daily Direct Afternoon Hog Report due to packer
submission issues. March corn is down 1 3/4 cents per bushel and January
soybean meal is down $4.10. The Dow Jones Industrial Average is up 3.07 points.
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