DTN Closing Livestock Comment 02/23 16:12
Lean Hogs Keep Scrapping for More
Looking at Wednesday's trade and what may come, all eyes will continue to
watch the lean hog market as it keeps batting home runs, seemingly unafraid of
the elevated levels its trading at.
DTN Livestock Analyst
The cattle contracts face uncertain bearish pressure, but the lean hog
complex fired higher throughout Tuesday's trade, rallying on both the futures
market and cash hog trade. Hog prices shot higher Tuesday afternoon on the
National Direct Afternoon Hog Report, up $2.65 with a weighted average of
$73.17 on 7,155 head. March corn is up 2 3/4 cents per bushel and March
soybean meal is up $3.40. The Dow Jones Industrial Average is up 15.66 points
and NASDAQ is down 67.85 points.
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