DTN Closing Livestock Comment 01/19 16:09
Tuesday Left the Livestock Complex Mixed
Tuesday roared into the week optimistically, allowing the livestock
contracts to trade higher early in the day. However, as the day drew closer to
closing the live cattle and lean hog contracts faced some resistance.
DTN Livestock Analyst
The livestock complex closed mixed Tuesday afternoon. The lean hog market
continued to fight pressure while the feeder cattle contracts relished in the
opportunity to close higher due to lower corn prices. Hog prices closed lower
on the National Direct Afternoon Hog Report, down $1.04 with a weighted average
of $54.26 on 9,088 head. March corn is down 5 1/2 cents per bushel and March
soybean meal is down $12.70. The Dow Jones Industrial Average is up 116.26
points and NASDAQ is up 198.68 points.