DTN Closing Livestock Comment 01/14 16:17
Live Cattle, Lean Hogs Push Higher Ahead of Weekend
Both the live cattle and lean hog contracts closed higher ahead of the week
and desperately hope that the market can find some long-term direction come
DTN Livestock Analyst
The live cattle and lean hog contracts closed higher heading into the
weekend, but the feeder cattle contracts grew leery of the corn market's modest
rally. Hog prices closed lower on the National Direct Afternoon Hog Report,
down $2.49 with a weighted average of $63.84 on 3,767 head. March corn is up 8
3/4 cents per bushel, and March soybean meal is down $3.30. The Dow Jones
Industrial Average is down 201.81 points, and the NASDAQ is up 86.94 points.
From Friday to Friday, livestock futures scored the following changes: February
live cattle up $0.65, April live cattle up $0.07, January feeder cattle up
$0.60, March feeder cattle down $0.30, February lean hogs up $1.25, April lean
hogs up $1.10.
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