DTN Closing Livestock Comment 01/25 16:15
Pork Cuts, Boxed Beef Prices Tip Lower
Heading into Wednesday, it's likely lean hog futures will continue to see
robust support amid the halt on Prop12.
DTN Livestock Analyst
It was a split day for the marketplace as cattle futures closed mostly
lower, but the lean hog market continued to demand support and kept trading
higher. A California judge ruled that Prop 12 enforcement should be halted on
sales of pork, which helped boost the lean hog market's spirits and aided in
the higher close. Hog prices closed higher on the National Direct Afternoon Hog
Report, up $6.44 with a weighted average of $72.13 on 9,755 head. March corn is
down 1 cent per bushel and March soybean meal is down $1.90. The Dow Jones
Industrial Average is down 66.77 points and NASDAQ is down 315.83 points.
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