DTN Closing Livestock Comment 02/04 16:27
Cattle Close Higher While Hogs Pulled Back
Even though boxed beef prices closed lower (as they seasonally do during
this time), the cattle contracts were able to close higher thanks to the
market's focus on its bullish fundamentals.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock contracts ended the day mixed, with the lean hog contracts
closing lower while the cattle contracts kept their higher position. Still no
cash cattle trade has developed, and asking prices still aren't established for
the week. March corn is up 1 cent per bushel and March soybean meal is up
$4.30. The Dow Jones Industrial Average is up 260.31 points and the NASDAQ is
down 350.61 points.
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