DTN Closing Livestock Comment 01/17 15:46
17 Jan 2023
DTN Closing Livestock Comment 01/17 15:46 Traders Desperate for Fundamental Intervention for Cattle to Trade Higher Heading into Wednesday's market, cattlemen will be closely watching boxed beef values and any changes in the corn market. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS The cattle complex faced minor pushback from traders as they desire to see better support from the cash market and boxed beef prices, and hope that the corn complex isn't going to keep with its recent rally. The lean hog complex was elated to see over 400 loads moved Tuesday afternoon and was thankful that traders finally found some technical support to help drive the contracts higher. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.22 with a weighted average of $71.39 on 4,535 head. March corn is up 10 1/4 cents per bushel and March soybean meal is up $4.90. The Dow Jones Industrial Average is down 391.76 points.