DTN Closing Livestock Comment 01/25 16:20

DTN Closing Livestock Comment 01/25 16:20 Lean Hog Futures Close with Triple-Digit Gains Lean hog futures closed sharply higher, supported by pork price demand and cash premiums. Cattle futures closed mixed in the live market and lower in the feeder trade. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Feedlot country was generally slow through the day with just a few starter bids noted in parts of the South. However, internet sales once again developed on a firm basis. The Fed Cattle Exchange Auction report Wednesday listed a total of 5,462 head, with 2,729 actually sold. The state-by-state breakdown looks like this: KS 586 head at $121.50-$124.00; NE 1,299 head at $120.00-$122.00; TX 638 head, at $123.00-$124.00; CO no test; IA no test; other states (SD/OK) 206 head at $119.00-$123.00. The weighted average was $121.98, up from last week's weighted average of $120.52. The national hog base closed up $0.51 compared with the prior day settlement ($59.00-$65.00, weighted average $63.58). Corn futures closed generally 0.03 cents higher, supported by short-covering in light trade volume. The stock market closed significantly higher with the Dow setting a new all-time high over 20,000. The Dow closed 150 points higher for the day with the NASDAQ up 55.