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DTN Closing Livestock Comment 11/26 16:13
   Cattle Cling to Bullish Outlook Amid New COVID-19 Variant

   While the rest of the futures complex crumbled lower, the cattle contracts
remained bullish through Friday's woes.

ShayLe Stewart
DTN Livestock Analyst

   GENERAL COMMENTS:

   Even though it was a holiday week where little is expected to take place, as
sale barns are mostly closed for the week, traders tend to take a couple extra
days off and no one is as attune to the markets as usual, but this week was as
busy as ever. The fat cattle market rallied up to $140 live, the cattle
contracts saw huge gains and, come Friday, there was news that a new COVID-19
variant had been found in South Africa. Come next week, the market will have a
lot to absorb and rationalize. Hog prices closed $0.53 lower on the National
Direct Afternoon Hog Report, posting a weighted average of $55.13 on 5,715
head. December corn is up 7 cents per bushel and January soybean meal is down
$1.50. The Dow Jones Industrial Average is down 905.04 points and NASDAQ is
down 353.56 points.
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An investment in futures and options on futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits. You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources, and other relevant circumstances. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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