DTN Closing Livestock Comment 03/21 15:18
Hog Trade Takes Advantage of Expanded Limits
Expanded trading limits did little to curb buyer support Thursday with
prices swiftly moving higher, closing $4.50 per cwt higher in most nearby
contracts. This once again sets the stage for wide trading ranges to redevelop
By Rick Kment
GENERAL COMMENTS: Hog futures continue to surge higher with prices shifting
$13 per cwt higher in the last week. Markets have moved more than $25 per cwt
off contract lows in the last month, sparking renewed interest through the
entire complex. Cattle trade got caught up in the buying momentum, although
concerns of cattle and calf losses are bolstering fall and winter price levels.
Corn futures are higher in light activity. May futures gained 4 3/4 cents per
bushel. Dow Jones Index is 219 points higher with Nasdaq up 110 points.
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