DTN Closing Livestock Comment 01/27 16:05
27 Jan 2016
DTN Closing Livestock Comment 01/27 16:05 Live Cattle Futures Jump to Triple-Digit Gains The cattle complex closed sharply higher Wednesday with live issues especially attracting buying interest. On the other hand, lean hog contracts settled with a firm undertone, supported by impressive packer spending in the country. By John Harrington DTN Senior Analyst GENERAL COMMENTS: The cash cattle trade remained untested Wednesday with both buyers and sellers watching futures work higher. We did see a few bids of $130 in parts of the South, but certainly nothing to tempt selling interest. Some showlists were priced around $136 to $138 in the South and $212 to $215 in the North. The Iowa/Minnesota daily direct afternoon report showed a weighted average price of $59.96, Base price range $51.00-$61.00, $1.47 higher. Corn closed unchanged.