The cash cattle market was able to push prices by $ 2.00 higher, even as the futures market cut sideways.
The cattle complex will be interested to see how Thursday’s export report relates to the market, but the lean pig complex knows that the likelihood of getting a reliable export report is small. Wednesday was a good day for livestock contracts, as contracts for live cattle and lean pigs closed higher on a strong market basis, but the fodder complex was tired amid a strong grain market.
Pig prices closed higher according to the National Direct Afternoon Pork Report, up $ 2.06 from a weighted average of $ 91.47 per 9,178 head.
March corn rose by 9 cents per bushel, and March soybean flour rose by $ 10.60. The Dow Jones Industrial Average fell 54.57 points and the NASDAQ fell 15.66 points.
https://agfax.com/2022/02/16/dtn-livestock-close-cash-cattle-gain-2-from-last-week/ AgFax’s cash profit since last week is $ 2