DTN Closing Livestock Comment 12/20 16:00
20 Dec 2023
DTN Closing Livestock Comment 12/20 16:00 Cattle Futures Rally in Late-Day Trade Despite limited interest early in the trading session that led to mixed price moves midday, late-day buying moved into both live cattle and feeder cattle contracts, allowing for triple-digit gains in all nearby contract months. Hog futures settled lower following the weekly market pattern seen over the previous days. Rick Kment DTN Analyst GENERAL COMMENTS: Strong late-day support developed through all cattle futures Wednesday afternoon. The sluggish market shifts seen early in the session in both live cattle and feeder cattle trade created limited market support and mixed price moves at midday. However, unlike the previous trading days where prices quickly eroded in the last hour of trade, Wednesday's market shifts helped to bring some additional momentum to the complex.