DTN Closing Livestock Comment 03/12 15:27
12 Mar 2019
DTN Closing Livestock Comment 03/12 15:27 Livestock Markets Persist in Familiar Directions Live and feeder futures posted another day of significant downward movement, falling as much as $2.350 in the nearby live contract. Lean hog contracts, meanwhile, haven't given up their recent rally, although gains were less volatile Tuesday. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: Trend-following speculators seem to be driving the day-to-day movements in livestock futures contracts this week. Generally steady results from the beef and pork markets continue to be supportive. According to the closing report, the national hog base is $1.24 higher ($42-$49, weighted average $47.20). Corn futures moved 3 to 5 cents higher Tuesday, suggesting the feed market will attempt to stay within its long-term sideways range. The stock market closed a tad higher, up 8 points on the S&P 500.