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DTN Closing Livestock Comment 12/07 15:16

7 Dec 2021
DTN Closing Livestock Comment 12/07 15:16 Hog Futures Experience Heavy Selloff Outside markets were enthusiastic about exports and economic recovery Tuesday, but the livestock markets focused more on disappointment. Elaine Kub Contributing Analyst GENERAL COMMENTS: Feeder cattle were the only livestock market tempted to test higher prices off and on through Tuesday, but a higher close in corn ultimately took away that temptation. The bulk of the bearishness focused on lean hogs, with clearly lower momentum on the chart attracting a high volume of trend-following traders. Afternoon hog prices were unavailable due to packer submission issues. March corn is up 2 1/2 cents per bushel and January soybean meal is down $2.90 per ton. The Dow Jones Industrial Average is up 492.4 points and NASDAQ is up 479.5 points.