DTN Closing Livestock Comment 01/06 15:44

DTN Closing Livestock Comment 01/06 15:44 Once Again, Cattle Futures Recover From Early Outside Pressure The cattle complex settled mixed in the live market and moderately higher in the feeder trade after successively dismissing bearish rumbling from outside markets. Lean hog issues finished moderately lower, pressured by profit taking in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Besides a few scattered bids noted in parts of the North (e.g., $210-$212), feedlot country remained very quiet as buyers and sellers cautiously assessed early year price potential. Some showlists were priced around $140-$142 in the South and $220 in the North. According to the closing report, the Iowa hog base is $0.49 higher compared with the Prior Day settlement ($49.50-$52.50, weighted average $51.10). For the most part, corn futures closed fractionally higher thanks to light commercial buying and strength in the bean trade. Equities closed lower, pressured by continued concerns about global economic growth, low oil prices and increased geopolitical tensions. The Dow closed 252 points lower with the Nasdaq down 55.