DTN Closing Livestock Comment 01/23 16:20
Sharp Gains Develop in Cattle Trade
Strong buyer support quickly moved into the cattle complex Tuesday. The
combination of market moves over the past two trading sessions has helped to
instill additional underlying support through the market.
By Rick Kment
Cash cattle activity remains quiet with very little interest seen through
the market. A handful of trade developed in Kansas at $123 per cwt. There is
likely to be more interest developing Wednesday morning, although active trade
may not be seen until Thursday or Friday. According to the closing report, the
national hog base is $0.25 lower compared with the Prior Day settlement
($62.00-$70.50, weighted average $69.41). Corn futures are lower in light
activity. March futures were 3/4 cent lower Tuesday. The Dow Jones Index is 3
points lower with the Nasdaq up 52 points.
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