DTN Closing Livestock Comment 11/22 16:48
Lean Hog Futures Blast to Two-Week High Before Thanksgiving
Meat futures rock the pre-Thanksgiving market with triple-digit gains.
Nearby hog contracts soared, powered in part by bullish demand implications of
smaller cold storage inventory.
By John Harrington
DTN Livestock Analyst
The cash cattle trade was very limited Wednesday with just a few live deals
reported in Colorado and western Nebraska at $120.50. According to the closing
report, the national hog base is .06 higher ($50.00-$58.00, weighted average
$56.65). Corn futures closed fractionally higher, mildly supported by better
action in the bean market. The stock market closed mixed with the Dow negative
by 64 points and the Nasdaq up 4.
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