DTN Livestock Close: Limited Activity Keeps Prices Stable

Narrow price shifts developed across the entire livestock market Thursday with traders focusing on cash and meat markets following sharp early week gains.

GENERAL COMMENTS:

Narrow trading ranges slowly developed in mixed trade throughout cattle and hog markets Thursday. Cash cattle markets are still quiet following sluggish market activity. Although a handful of cattle were sold through the day at $195 dressed basis, this is still not enough to establish a market trend. Bids are expected to become much more active through the day Friday. Asking prices are likely to be seen early Friday at $125 to $126 live and $200 dressed.

According to the closing report, the national hog base is $0.02 lower ($47-$53, weighted average $51.14). The sluggish movement may create additional stability going into the Friday session.

Corn futures were lower in light activity, with March futures closing 5 cents lower. The Dow Jones Index is 122 points higher with the Nasdaq up 28 points.

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