DTN Closing Livestock Comment 01/26 16:20
Cattle Trade With Confidence, While Hogs Chop Sideways
Heading into Thursday, the livestock complex will be anxious to see if much
demand is brought forth in Thursday's export report.
DTN Livestock Analyst
It was a technically supportive day for the cattle contracts, but the cash
side of the market dipped lower as packers pushed cash prices down $1.00 from
Tuesday's trade. After an aggressive week, the lean hog complex is looking for
follow-through support, which could come from Thursday's export numbers. Hog
prices closed lower on the National Direct Afternoon Hog Report, down $3.84
with a weighted average of $68.29 on 4,631 head. March corn is up 7 cents per
bushel and March soybean meal is up $8.50. The Dow Jones Industrial Average is
down 129.64 points and NASDAQ is up 2.82 points.
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