Tuesday, December 10, 2024  
 
 
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DTN Closing Livestock Comment 12/09 15:47
   Cattle Futures Firm Monday

   Active buyer support in nearby live cattle trade early Monday has helped
stimulate firm gains in live cattle and feeder cattle trade Monday afternoon.
Hog futures eroded from previous buyer support as traders look for additional
direction from cash values and wholesale pork prices.

Rick Kment
DTN Analyst

GENERAL COMMENTS:

   Livestock futures remain mixed in light to moderate trade on Monday
afternoon. Limited early outside market direction left many livestock traders
on the sidelines searching for additional direction, late day moves in
financial and energy markets narrowed early gains in the cattle complex. Cattle
futures moved higher with morning gains establishing strong gains, but a
minimal pullback through the last half of the session made market shifts less
impressive. Hog futures shifted lower with traders attempting to square
positions following recent strong market support. Hog prices closed higher on
the Daily Direct Afternoon hog report, up $0.89 with a weighted average of
$81.02 on 7,402 hogs. March corn closed up 1 3/4 at $4.418 and January soybean
meal closed up $2.20 at $289.6. The Dow Jones Industrial Average is down 240.59
at 44,401.93.
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