DTN Closing Livestock Comment 02/03 15:36
Higher Tones Dominate the Livestock Complex Friday
Friday wasn't a gloomy day for the livestock complex as the futures market
closed higher and Northern live cattle traded $2.00 stronger.
DTN Livestock Analyst
It was an extremely positive day for the livestock complex as the futures
market saw higher closes and began to see a light trade develop in the North
for $2.00 higher in the cash market. Currently, cattle have still not sold in
the South and, unless trade happens later Friday, feedlots could be looking at
rolling over cattle, which consequently means that packers got very few bought
this week. Hog prices closed lower on the Daily Direct Afternoon Hog Report,
down $0.28 with a weighted average of $72.65 on 5,407 head. March corn is up 2
1/4 cents per bushel and March soybean meal is up $4.70. The Dow Jones
Industrial Average is down 138.36 points.
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