DTN Closing Livestock Comment 02/25 16:16
Thursday's Export Report Sends Live Cattle and Lean Hogs Mostly Lower
It was as mixed day for the livestock sector as demand for lean hogs tries
to push the market up, but both the lean hog and live cattle contracts closed
mostly lower Thursday.
DTN Livestock Analyst
After seeing Thursday's bearish export report, both the live cattle and lean
hog contracts scaled mostly lower, which lent an opportunity for the feeder
cattle contracts to trade higher amid slightly weaker corn prices. Hog prices
closed sharply higher again on the National Direct Afternoon Hog Report, up
$2.24 with a weighted average of $77.94 on 12,030 head. May corn is down 7 1/4
cents per bushel and May soybean meal is down $4.30. The Dow Jones Industrial
Average is down 559.85 points and NASDAQ is down 478.54 points.
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