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Latin America
Livestock Futures Post Mixed Price Changes at Midweek
DTN Closing Livestock Comments 01/23 16:26
Livestock Futures Post Mixed Price Changes at Midweek
The cattle complex settled with uneven results with traders torn between
longer-term supply bullishness and shorter-term beef demand worries. Lean hog
futures ended mostly lower though near session highs.
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS:
Light cattle trade surfaced in parts of most feeding states today, though
the best market test took place in the South. Most live sales were marked at
$122, $1-$3 lower. According to the closing report, the Iowa hog base closed
$1.53 higher compared with the Prior Day settlement ($74.00-$89.50, weighted
average $87.67). Old-crop corn futures finished generally 5-7 cents lower,
pressured by bean selling tied to a better growing weather forecast for
Argentina. The stock market finished higher for the fourth-consecutive session
with the Dow closing at its best level in five years. The Dow advanced by 66
points with the Nasdaq up 6.
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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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