DTN Closing Livestock Comment 12/05 16:06
Live Cattle Capture Gains, Rest of Complex Drifts Lower
Lean hog and feeder cattle markets closed lower giving live cattle the spark
to trade higher, along with competitive cash prices.
By ShayLe Stewart
DTN Livestock Analyst
The market was mostly determined to trade lower. With slim demand for
feeders, little market support and lean hogs taking a day of rest, it makes
sense why a day of mostly sideways trade was determined. Hog prices are higher
on the National Direct Afternoon Hog Report, up $0.78 with a weighted average
of $46.46. March corn is down 1 3/4 cents per bushel and January soybean meal
is up $4.80. The Dow Jones Industrial Average is up 28.01 points and NASDAQ is
up 4.03 points.
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