DTN Closing Livestock Comment 01/18 15:32
Cattle Traders Extend Week's Rally With Another Round of Solid Gains
The cattle complex closed significantly higher, confirming Wednesday's
technical achievements. Lean hog issues settled mixed, though most nearby
contracts moved moderately higher.
By John Harrington
DTN Livestock Analyst
The cash cattle arena remained dead quiet through the day with bids and
asking prices separated by as much as $5 on a live basis (e.g., $118 versus
$123 in Kansas and Texas). According to the closing report, the national hog
base is $0.31 lower ($62-$70.50, weighted average $69.39). The corn market
closed a penny plus lower in light and featureless trade volume. Sobered by the
threat of a government shutdown, the stock market closed lower with the Dow off
92 points and the Nasdaq down by 2.
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