DTN Closing Livestock Comment 01/31 15:55
31 Jan 2024
DTN Closing Livestock Comment 01/31 15:55 Cattle Closed Lower as Traders Patiently Waited for the Inventory Report Heading into Thursday's trade the market is expected to trade higher thanks to a bullish Cattle Inventory report. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The market moved slowly ahead of the afternoon's Cattle Inventory report, but the wait was worth the time as today's report showcased bullish findings for the cattle market. Still no cash cattle trade has developed but today's report should help feedlots secure higher prices as bullish attitudes summarize the market's demeanor. Hog prices closed higher on the Daily Direct Morning Hog Report, up $3.16 with a weighted average price of $62.56 on 5,677 head. March corn is up 1/2 cent per bushel and March soybean meal is up $5.30. The Dow Jones Industrial Average is down 317.01 points.