DTN Closing Livestock Comment 01/31 16:23
31 Jan 2022
DTN Closing Livestock Comment 01/31 16:23 Cattle Ready to Rally It was an invigorating day for the cattle market as the Cattle Inventory Report showed supplies of beef cows are lower, which means cow-calf producers are likely to see higher prices in the year ahead. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Upon seeing a bullish Cattle Inventory report, the cattle contracts closed higher and are excited to see what the market has to offer in the year ahead. The lean hog market closed higher, but cash hog prices closed sharply lower. Hog prices closed lower on the National Direct Afternoon Hog Report, down $6.58 with a weighted average of $68.53 on 3,117 head and a five-day rolling average of $71.99. March corn is down 10 cents per bushel and March soybean meal is up $7.70. The Dow Jones Industrial Average is up 406.39 points and NASDAQ is up 469.31 points.