DTN Closing Livestock Comment 01/31 15:26
31 Jan 2023
DTN Closing Livestock Comment 01/31 15:26 Tuesday's Cattle Inventory Report Didn't Disappoint Come Wednesday both the live cattle and feeder cattle contracts are expected to trade higher as traders finally have the opportunity to trade the bullish nature of Tuesday's Cattle Inventory Report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS The market's main focus throughout all of Tuesday's trading hours was the Cattle Inventory Report and it came out extremely bullish. Come Wednesday both the live cattle and feeder cattle contracts are expected to trade significantly higher. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.77 with a weighted average of $70.85 on 7,747 head. March corn is down 4 cents per bushel and March soybean meal is down $4.50. The Dow Jones Industrial Average is up 324.56 points.