DTN Closing Livestock Comment 07/09 16:24
Livestock Contracts Rally Into Thursday's Close
Thursday came out strong for livestock contracts and thankfully the markets
were able to carry the support into closing.
DTN Livestock Analyst
Thursday shaped up to be a strong day for livestock contracts, as all three
sectors closed mostly higher and the cash hog market closed significantly
stronger too. Heading into Friday, the new rally will be tested as the market
has teetered back and forth, not feeling 100% confident if higher is where
prices should trend. Hog prices closed significantly higher on the National
Direct Afternoon Hog Report, up $1.09 with a weighted average of $30.02 on
14,692 head -- WOW! December corn is up 2 3/4 cents per bushel and December
soybean meal is up $3.60. The Dow Jones Industrial Average is down 361.19
points and NASDAQ is up 55.25 points.
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