DTN Closing Livestock Comment 08/12 16:15
Cash Cattle Moves Cattle Futures Higher Again
Wednesday closed as another strong day for cattle contracts while the lean
hog complex close mixed.
DTN Livestock Analyst
Wednesday's Fed Cattle Exchange ignited a strong cash cattle market that
eventually carried into the major feeding states. Cash cattle trade was
anticipated to be stronger again this week, but $4.00 higher came as a bit of a
surprise. Thankfully the cattle contracts have been able to move the board with
the cash market's rally. The lean hog complex close mixed with some contracts
in the first quarter of 2021 pushing higher. Hog prices were higher on the
National Direct Afternoon Hog Report, up $0.26 with a weighted average of
$37.69 on 4,736 head. December corn is up 3 3/4 cents per bushel and December
soybean meal is up $0.30. The Dow Jones Industrial Average is up 289.93 points
and NASDAQ is up 229.42 points.