DTN Closing Livestock Comment 03/01 16:21
Hogs Keep Grinding Higher While Cattle Weaken
The lean hog market started rallying right from the day's opening whistle
and kept its momentum through closing.
DTN Livestock Analyst
It was another strong day for the lean hog contracts, but the cattle
contracts couldn't interest traders whatsoever. As the cattle market looks for
fundamental support, both the live cattle and feeder cattle contracts are left
to trade lower in the meantime. Hog prices closed higher on the National Direct
Afternoon Hog Report, up $0.13 with a weighted average of $78.65 on 5,951 head.
March corn is down 8 cents per bushel and March soybean meal is down $3.00. The
Dow Jones Industrial Average is up 603.14 points and NASDAQ is up 396.49 points.
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