DTN Closing Livestock Comment 01/27 16:15
27 Jan 2021
DTN Closing Livestock Comment 01/27 16:15 All Eyes Look to the Cash Cattle Market Wednesday's trade was doggish as traders looked at the livestock contracts and wanted to let them cool for a day before investing more and continuing to scale them higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a sluggish day for the livestock contracts as the complex drifted lower, unable to keep the trader interest and momentum needed to continue to add to the market's position. Bids have surfaced for this week's cash cattle market, but feedlots are resistant to cave this early in the week when they stand the chance to move this week's cash market potentially $2.00 to $3.00 higher. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.58 with a weighted average of $56.75 on 5,776 head. March corn is up 1 3/4 cents per bushel and March soybean meal is up $0.10. The Dow Jones Industrial Average is down 633.87 points and NASDAQ is down 355.47 points.