DTN Closing Livestock Comment 01/21 16:28
Lean Hogs Push to New Highs Friday
Friday's closes brought a new three-month high to February hogs and new
contract highs to the April and June contracts. Live cattle and feeders closed
lower Friday; feeders were lower on the week.
DTN Lead Analyst
Lower U.S. hog inventories in 2021 plus Friday's report of 38,700 metric
tons (mt) of pork export sales for last week were enough to send hog futures to
new high ground Friday, even to new contract highs for April and June
contracts. Meanwhile, live cattle futures did well to finish the day with
modest losses, staying mostly neutral in a week that had a lot of bearish
headwinds for cattle. March feeder cattle did not hold up as well, closing down
$1.65 Friday and ending down $3.07 on the week.
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