DTN Closing Livestock Comment 02/04 15:53
4 Feb 2020
DTN Closing Livestock Comment 02/04 15:53 Feeder Cattle Survive Tuesday's Market Pressure Early gains Tuesday morning was not enough to spark meaningful support through the livestock market, as traders deviated from Monday's Gains. By Rick Kment DTN Analyst GENERAL COMMENTS: Feeder cattle futures rebounded nicely following a lackluster morning for trade Tuesday. The ability to spark consecutive gains in nearby feeder cattle futures appears to be gaining traction through the complex. Despite closing lower, live cattle futures showed little interest in retracing Monday's gains, potently sparking renewed support through the rest of the week. Cash prices are higher on the National Direct Afternoon Hog Report, up $0.54 with a weighted average of $53.39 with 8,272 head selling. Market range of $45 to $55 per cwt. March corn is up 3 1/2 cents per bushel and March soybean meal is down $1.30. The Dow Jones Industrial Average is up 407.83 points and NASDAQ is up 194.57 points.