DTN Closing Livestock Comment 01/04 15:50
4 Jan 2024
DTN Closing Livestock Comment 01/04 15:50 Lean Hog Futures Rally Thursday Market momentum continued to build through the entire Thursday trading session in nearby lean hog futures trade. Spot month February contracts posted impressive upward momentum across the complex. Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures ended mixed Thursday with moderate to firm losses in cattle futures offset by strong, triple-digit rally developing in nearby lean hog futures. The hog complex has been under significant pressure over the last couple of weeks, focusing on concerns of stable production while pork demand remains sluggish. Renewed trade interest and volume moving into the market through the week is leading to additional underlying support in the hog complex but is also leading to some late week market adjustments in cattle trade.