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DTN Midday Livestock Comments 01/21 11:42
Traders Continue to Let Livestock Contracts Trade Mildly Higher
A single bid of $233 is currently on the table in Kansas, but no cattle have
traded yet.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
The livestock complex is trading mostly higher into midday Wednesday as
traders remain eager to support the marketplace. No cash cattle trade has
developed, but a single bid is currently being offered in Kansas at $233. March
corn is down 1 3/4 cents per bushel and March soybean meal is down $0.00. The
Dow Jones Industrial Average is up 261.56 points and the NASDAQ is up 37.27
points.
LIVE CATTLE:
The live cattle complex continues to trade mildly higher as the market is in
a bit of a sweet spot. Currently, traders can allow the contracts to climb
slightly higher without fears of immediate resistance pressure following last
week's sharp decline. But at the same time, traders don't feel pressure to
trade the contracts sharply higher as no cash cattle trade has developed yet.
There is currently a single big on the table in Kansas at $233, but as of this
point, no business has developed and asking prices remain elusive. February
live cattle are up $0.57 at $232.95, April live cattle are up $0.30 at $234.87
and June live cattle are up $0.25 at $230.85.
Boxed beef prices are higher: choice up $1.42 ($366.18) and select up $2.41
($362.25) with a movement of 91 loads (55.81 loads of choice, 8.47 loads of
select, 6.97 loads of trim and 19.48 loads of ground beef).
FEEDER CATTLE:
The feeder cattle complex is again trading in the same manner as the live
cattle market, as its contracts are also trading moderately higher. January
feeders are up $1.27 at $363.90, March feeders are up $1.25 at $358.92 and
April feeders are up $1.22 at $357.67. So long as the live cattle complex
continues to trade higher this afternoon, the feeder cattle contracts should be
able to close higher as well.
LEAN HOGS:
The lean hog complex is trading mostly sideways, keeping a slightly higher
tone but unwilling to advance the market without seeing stronger fundamental
support. Yes, midday pork cutout values are higher, which is a perk, but at the
same time, the cash market remains a fickle one to watch as movement in the
cash complex has been relatively thin. February lean hogs are down $0.10 at
$87.75, April lean hogs are up $0.07 at $95.25 and June lean hogs are up $0.07
at $108.15.
The projected lean hog index for 1/20/2026 is up $0.37 at $82.40 and the
actual index for 1/19/2026 is up $0.27 at $82.03. Hog prices are again
unavailable on the Daily Direct Morning Hog Report because of confidentiality.
However, we can see that 2,405 head have traded this morning. Pork cutouts
total 138.67 loads with 122.29 loads of pork cuts and 16.37 loads of trim. Pork
cutout values: up $0.94, $94.41.
ShayLe Stewart can be reached at shayle.stewart@dtn.com
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