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Market News Details

DTN Closing Livestock Comment

DTN Closing Livestock Comment 01/22 16:03
   Live Cattle Futures Open Week With Significant Advance

   The cattle complex closed substantially higher for the most part, though
live contracts attracted more selling interest than their feeder counterparts.
Lean hog issues settled moderately lower in light trade volume.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   Activity in cattle feeding country was limited to the distribution of
showlists. Ready numbers look smaller in all states except Texas. According to
the closing report, the national hog base is $0.44 higher ($62-$70, weighted
average $69.87). Corn futures closed mostly flat with fractional softness noted
on the front end. Equities closed higher, somewhat supported by the end of the
government shutdown. The Dow settled 142 points higher with the Nasdaq positive
by 71.

Market Commentary

The markets opened firmer as called with more short-covering that took meal and beans to new highs for the recent move upward. Meal led the charge on concerns still about the health of Argentine crops. Soyoil futures lagged the pace, while wheat/corn trade was a dominant morning theme..............
End of Week Audio Commentary
by Jody Lefcourt
Last updated 12/22/2017 11:36 AM CST
Quotes, news, weather & polling services by Telvent/DTN.  Market data delayed at least 10 minutes.  Futures quotes source: ICE, MGEX & CME Group.