DTN Closing Livestock Comment 01/24 16:40
24 Jan 2022
DTN Closing Livestock Comment 01/24 16:40 Cattle Trade Sheepishly Throughout Monday's Session The cattle complex struggled to trade higher, while the lean hog market shook off the day's nerves early and closed higher in nearby contracts. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: It was a tough day for the cattle contracts, as the market absorbed Friday's USDA Cattle on Feed report and tried to make sense of the spike in placements all while battling a weaker-toned market throughout the rest of the sector. Meanwhile, the lean hog complex rallied higher as excellent meat demand is helping push the complex higher and higher. Hog prices are higher on the National Direct Afternoon Hog Report, up $3, with a weighted average of $65.69 on 4,065 head. March corn was up 4 3/4 cents per bushel, and March soybean meal was up $1.20. The Dow Jones Industrial Average was up 99.13 points, and the NASDAQ was up 86.21 points.