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DTN Midday Livestock Comments          01/22 12:18

   Cattle Gains Lead Complex Higher 

   Moderate to strong support is seen across the market with traders focusing 
on the live cattle market. This is pushing nearby contracts to triple-digit 

By Rick Kment
DTN Analyst


   Livestock trade is mixed with moderate to strong buyer activity moving back 
into the cattle market. Very little interest is seen in hog futures, although 
the tone of the market is sluggish. Corn prices are higher in light trade. 
March corn futures are 1/4 cent higher Monday. Stock markets are higher in 
light trade. The Dow Jones is 54 points higher while Nasdaq is up 24 points.


   Strong buyer support has moved into the live cattle complex. This is 
allowing for increased buyer support to be seen through the entire complex. 
Cash cattle activity is quiet following show list distribution and inventory 
taking. Active trade may be pushed to the end of the week once again. Boxed 
Beef cut-outs at midday are lower, $0.54 lower (select) and down $0.25 per cwt 
(choice) with light movement of 60 total loads reported (41 loads of choice 
cuts, 12  loads of select cuts, 9 loads of trimmings, 6 loads of ground beef). 


   Strong buyer support is moving into the feeder cattle market. There is 
additional gains expected before the end of the day following the triple digit 
gains in live cattle trade.  


   Lean hog futures remain mixed in a narrow range with very little long term 
direction developing early Monday morning. Prices are stuck in a narrow range 
from 25 cents lower to 12 cents higher. The overall lack of movement in the 
market may allow for sluggish activity through most of the trading session. 
This could add even more concern to traders as they focus on the gains in 
cattle market. Cash prices are higher on the National Direct morning cash hog 
report. The weighted average price is up $0.36 at $69.59 per cwt with the range 
from $62.00 to $69.81 on 2,818 head reported sold. Cash prices are unreported 
due to confidentiality on the Iowa/Minnesota Direct morning cash hog report. 
The National Pork Plant Report posted 116 loads selling with carcass values 
falling $0.11 per cwt. Lean hog index for 1/18 is at $73.67 up $0.12 with a 
projected two-day index of $73.40, down $0.27. 

   Rick Kment can be reached at 


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