DTN Closing Livestock Comment 01/26 16:03
26 Jan 2016
DTN Closing Livestock Comment 01/26 16:03 Cattle Complex Rebounds With Help of Outside Markets The live and feeder cattle trade closed significantly higher, supported by short-covering, cash premiums and outside markets. Lean hog issues settled moderately higher for the most part, boosted by improving fundamentals and technical buying. By John Harrington DTN Senior Analyst GENERAL COMMENTS: The cash cattle trade remained at a standstill through the day with bids and asking prices poorly defined. A few showlists were priced around $136 to $138, but for the most part feedlot managers sat on their hands and watched futures develop. The Iowa/Minnesota daily direct afternoon report showed a weighted average price of $58.35, Base price range $56.00-$59.00, $1.31 higher. Corn closed down 1/2 cent in the March and down 1/4 cent in the July.