DTN Closing Livestock Comment 01/30 16:32

DTN Closing Livestock Comment 01/30 16:32 Narrow Shifts Limit Market Direction Lack of price movement late Wednesday kept traders unwilling to step back into the market. Prices were mixed, moving in a narrow range. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures moved in a narrow range Wednesday afternoon with lean hogs backing away from firm early gains and feeder cattle moving off of moderate initial losses. The tepid market temperature was in sharp contrast to the frigid winter blast that engulfed much of the Midwest on Wednesday. The trade initially seemed to be concerned about the subzero temperatures, but then lost interest through the trading session. Cash market direction was limited Wednesday with a few token bids seen in Nebraska. Active trade is not likely to be seen until late Thursday or sometime Friday. Asking prices remain at $125 and higher live, and $200 to $203 per cwt dressed. The National Daily Direct afternoon hog report was $0.21 lower ($47-$52, weighted average $51.37) on 2,790 head sold. Corn futures were higher in light activity with the March contract up 4 cents. The Dow Jones Index was 434 points higher with Nasdaq up 154 points.