DTN Closing Livestock Comment 01/24 16:40
Cattle Trade Sheepishly Throughout Monday's Session
The cattle complex struggled to trade higher, while the lean hog market
shook off the day's nerves early and closed higher in nearby contracts.
DTN Lead Analyst
It was a tough day for the cattle contracts, as the market absorbed Friday's
USDA Cattle on Feed report and tried to make sense of the spike in placements
all while battling a weaker-toned market throughout the rest of the sector.
Meanwhile, the lean hog complex rallied higher as excellent meat demand is
helping push the complex higher and higher. Hog prices are higher on the
National Direct Afternoon Hog Report, up $3, with a weighted average of $65.69
on 4,065 head. March corn was up 4 3/4 cents per bushel, and March soybean meal
was up $1.20. The Dow Jones Industrial Average was up 99.13 points, and the
NASDAQ was up 86.21 points.
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