DTN Closing Livestock Comment 01/26 16:09
Corn Prices Continue to Stress Feeders
Live cattle and lean hog contracts took Tuesday by storm while the feeder
cattle contracts battle with the rising corn market.
DTN Livestock Analyst
It was a good day for most of the livestock sector as both the live cattle
and lean hog contracts saw excellent movement and their contracts were able to
close higher as well. Meanwhile, with the corn market's re-found support,
feeders tumbled lower worried again about input costs. Hog prices closed higher
on the National Direct Afternoon Hog Report, up $0.87 with a weighted average
of $56.17 on 5,490 head. March corn is up 20 3/4 cents per bushel and March
soybean meal is up $6.90. The Dow Jones Industrial Average is down 22.96 points
and NASDAQ is down 9.93 points.