DTN Closing Livestock Comment 02/06 15:43
6 Feb 2023
DTN Closing Livestock Comment 02/06 15:43 Cattle Charge Higher Through Monday's Market Heading into Tuesday's market, the lean hog complex is hoping to find some support, and the cattle complex hopes to keep with its upward trend. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS Both the live cattle and feeder cattle markets flourished throughout Monday's complex as the belief that 2023's cattle market is going to be incredibly strong has taken off after last week's bullish Cattle Inventory report. It will be especially interesting to see what the week's cash cattle market does as packers are short bought and feedlots are determined to move the market higher. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.31 with a weighted average of $72.34 on 4,585 head. March corn is up 1 1/2 cents per bushel and March soybean meal is down $7.50. The Dow Jones Industrial Average is down 40.14 points.