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DTN Closing Livestock Comment 11/30 15:20
   Active Buying Takes Feeder Cattle, Lean Hogs Higher Wednesday

   After falling through the first half of the week, livestock futures
contracts joined the rest of the commodity sector in pivoting higher with a
reaction to bullish optimism for improved Chinese demand amid easing COVID
restrictions.

Elaine Kub
Contributing Analyst

GENERAL COMMENTS

   Triple-digit gains for lean hog futures and feeder cattle futures gained
momentum Wednesday afternoon as bullish headline-chasing speculators churned
through a strong volume of contracts. Outside markets were the originators of
these bullish ideas, with crude oil pivoting higher and trading above $80 per
barrel. In the cash cattle market, light trade developed Wednesday in parts of
the South at $155, fully steady with last week's weighted averages. Asking
prices are around $156 to $158 in the South, but still not established in the
North. The National Direct Afternoon Hog Report is delayed Wednesday afternoon,
but as a benchmark, the five-day rolling average from the morning report was
$84.73. December corn moved down 3 3/4 cents to $6.62 per bushel and December
soybean meal closed up $9.20 per ton to $417.70. The Dow Jones Industrial
Average was up 737.24 points and the NASDAQ was up 526.61 points.
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