DTN Closing Livestock Comment 01/29 16:14
29 Jan 2021
DTN Closing Livestock Comment 01/29 16:14 Cash Cattle Finally See Significantly Higher Prices The livestock contracts closed mixed Friday afternoon, but thankfully cattlemen can head into the weekend with a bullish Cattle Inventory report and stronger cash cattle prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle contracts sank lower before Friday's close, but the cash cattle market didn't squander the opportunity to still trade higher. Meanwhile, the lean hog contracts closed mixed with strong pork cutout values helping keep some of the contracts elevated through closing. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.23 with a weighted average of $56.78. March corn is up 12 1/2 cents per bushel and March soybean meal is up $3.90. The Dow Jones Industrial Average is down 620.74 points and NASDAQ is down 266.47 points.