DTN Closing Livestock Comment 01/10 15:40
10 Jan 2024
DTN Closing Livestock Comment 01/10 15:40 Feeder Cattle Lead Market Higher Light to moderate trade developed across livestock futures Wednesday with prices generally higher in all markets, while feeder cattle futures expanded the upward move higher, leading the entire complex by the end of the session. Rick Kment DTN Analyst GENERAL COMMENTS: Trade Wednesday seemed to be focused on position adjustments in all livestock trade with narrow gains redeveloping in lean hog futures following an initial price pullback. Meanwhile, live cattle futures closed mostly higher, but well off session highs as traders continue to focus on firming market fundamentals, but technical trade is unwilling to break out of the current sideways trading pattern.