DTN Closing Livestock Comment 01/12 16:11
12 Jan 2023
DTN Closing Livestock Comment 01/12 16:11 Feedlots Hold the Line Thursday The cash cattle market still hasn't seen may cattle trade as feedlots are holding out for higher prices. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS It was a mixed day for the livestock complex as both the cattle and hog markets received a fairly supportive WASDE report, but its positive nature wasn't enough to push the contracts higher ahead of closing Thursday. The cash cattle market has yet to trade, meaning that packers are going to have to get serious come Friday if they're going to get any cattle bought this week. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.39 with a weighted average of $72.60 on 5,630 head. March corn is up 15 cents per bushel and March soybean meal is up $6.70. The Dow Jones Industrial Average is up 216.96 points.