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Nearby Live Cattle Close Sharply Lower
DTN Closing Livestock Comments 01/18 16:13
Nearby Live Cattle Close Sharply Lower
For the third time this week, nearby live cattle lost triple digits,
pressured by long liquidation, technical selling and fundamental worries. Lean
hog contracts settled mostly higher, supported by ideas of carcass value
appreciation over the next 30 to 60 days.
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS:
The cash cattle trade was barely tested today with just a few dressed sales
reported in parts of Kansas, Nebraska and Iowa. Some feedlots sold cattle at
$195, $3 lower than Wednesday's market and nearly $8 lower than a week ago.
According to the closing report, the Iowa hog base closed $0.73 lower compared
with the Prior Day settlement ($78.00-$89.50, weighted average $85.74). The
corn market settled modestly higher, up 2 to 4 cents.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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