DTN Closing Livestock Comment 01/20 16:42

DTN Closing Livestock Comment 01/20 16:42 Cattle Futures Close Bullish Week With Mixed Results The cattle complex closed generally mixed, scrambled by follow-through buying and short-covering. Similarly lean hog contracts closed with uneven prices, higher in deferreds and lower in nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market Friday was very slow thanks to aggressive business on Thursday. Thanks to sharply higher packer spending, most showlists were pretty much cleaning up before Friday began. It's a good bet that feedlot managers will be eager to price cattle sharply higher early next week. The National hog base closed $0.07 lower compared with the Prior Day settlement ($58.00-$62.88, weighted average $62.88). From Friday to Friday, livestock futures scored the following changes: Feb LC Up $1.73; Apr LC up $1.05; Jan FC Up $2.65; Mar FC Up $1.97; Feb LH Off $0.30; Apr LH Off $1.15. Corn futures closed mostly $0.03 cents higher, supported by lower estimates of South American production and a softer dollar. The stock market closed mostly higher with the Dow off 94 and the NASDAQ better by 15.