DTN Livestock Close: Prices Mixed in Light Trade

©Debra L Ferguson Stock Photography

Narrow trading ranges in the livestock markets left the trade with a sense of uncertainty Friday. Traders are expected to mull over USDA reports released late Friday afternoon, although the information is expected to lead to only limited direction Monday.

GENERAL COMMENTS:

Limited activity slowly developed in livestock trade Friday as traders backed away from wide market swings this week and focused more on position-squaring ahead of the weekend. This left prices mixed in a narrow trading range in most contracts. From Friday to Friday, livestock futures scored the following changes: Feb LC up $2.05; Apr LC up $1.70; Mar FC up $0.30; Apr FC up $0.08; Apr LH off $4.08; May LH off $2.98.

Cash cattle trade remained at a standstill as of midafternoon Friday, and it appeared that active trade would hold off until late afternoon and evening Friday once again. This has becoming a pattern over the last few weeks of both sides holding out until Friday evening. Bids had improved slightly and were holding at $123 to $125 live and $202 dressed. Even though the gap was slowly narrowing, it was still below asking prices of $128 live and $205 to $207 dressed.

The National Daily Direct afternoon hog report was $0.42 higher ($43.50-$47.85, weighted average $46.76) on 9,206 head sold.

Corn futures were mixed in light activity with the March down 1/4 cent per bushel. The Dow Jones Index was 181 points higher with Nasdaq up 67 points.

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