DTN Closing Livestock Comment 01/19 16:24
Technical Support, Higher Meat Prices Boost Livestock Futures
Livestock futures all closed higher Wednesday amid excellent technical
interest and fundamental interest, as both pork and beef prices jumped.
DTN Livestock Analyst
It was a strong day throughout the livestock contracts as the entire
marketplace closed higher. It was especially surprising to see the feeder
cattle contracts close higher amid the corn market's jump in prices well above
$6.00 a bushel. Hog prices closed higher on the National Direct Afternoon Hog
Report, up $4.09 with a weighted average of $70.28 on 9,911 head. March corn is
up 11 cents per bushel and March soybean meal is up $8.20. The Dow Jones
Industrial Average is down 339.82 points and NASDAQ is down 166.64 points.
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