DTN Closing Livestock Comment 01/14 15:42
14 Jan 2019
DTN Closing Livestock Comment 01/14 15:42 Prices Struggle on Limited Direction Moderate-to-firm pressure swept through livestock trade Monday, eroding lean hog and feeder cattle futures. Limited activity may continue through the first half of the week due to sideways trading ranges. By Rick Kment DTN Analyst GENERAL COMMENTS: Firm pressure in most livestock trade seemed to create very little market direction Monday. Feeder cattle futures posted strong losses in front-month contracts, while live cattle trade closed mixed with spot contracts setting new contract highs. Lean hog futures eroded on follow-through pressure. Limited volume may allow for additional moderate to wide shifts through the upcoming trading days. Cash markets are undeveloped with showlist distribution and inventory taking the main order of business Monday. Showlists for the week appear mixed with gains in Kansas offset by lower offerings in Texas and Nebraska. Closing cash hog prices are unavailable at this time due to packer submission delays. Corn futures are higher in light activity. March futures were 1/4 cent higher. Dow Jones Index is 92 points lower with Nasdaq down 63 points.