DTN Closing Livestock Comment 01/11 16:08
11 Jan 2024
DTN Closing Livestock Comment 01/11 16:08 Livestock Futures March Higher Thursday Despite early market uncertainty, buyers redeveloped, pushing livestock futures higher at the end of the trading day in all nearby contracts. The focus on firming fundamental support is sparking renewed futures trade in cattle and hog trade. Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures continued to move higher in both cattle and lean hog markets despite softer and lackluster interest early in the session. Both live cattle and feeder cattle futures posted triple-digit gains in front-month contracts, while the lean hog market came back from morning price pressure to close higher for the sixth consecutive trading session. Beef and pork values helped to rekindle the expectation that a combination of fundamental and technical support continues to be building through the livestock complex near the end of the week.