NEWS
DTN Closing Livestock Comments
John Harrington DTN Livestock Analyst
Thu Jan 31, 2013 04:20 PM CST

GENERAL COMMENTS:

According to the closing report, the Iowa hog base closed $2.05 lower compared with the Prior Day settlement ($77.00-$91.00, weighted average $88.89). The cash cattle trade was a no-show today with just the slight scattering of packer bids (i.e., $198-$199 in the North, $125 in the South). Clearly, buyers felt trapped between tight feedlot offerings and struggling demand for boxed beef. Corn futures closed narrowly mixed with old-crop prices marginally higher and new-crop contracts 1-2 cents lower. The stock market closed lower, pressured by a batch of disappointing corporate earnings and a rise in first-time jobless claims. ...

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