By DTN/The Progressive Farmer
Wed 23 Jan 2013 17:00:00 CT
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
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.