DTN Closing Livestock Comment 01/12 16:44

DTN Closing Livestock Comment 01/12 16:44 Lean Hog Futures Surge Higher Tuesday Strong gains have quickly developed Tuesday, which is creating additional market support in lean hog futures. Live cattle trade has started to trickle into the market through the first couple days, but there still needs to be a lot of cattle moved in order to get packers' needs met for the week. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle trade continues to slowly trickle into the market through the week with prices expected to be $2 to $4 per cwt higher than last week's price levels. The majority of trade is still yet to be done, but it may be a slow trickle of events through the next several days in order to get business done for the week. According to the closing report, the Iowa hog base is $1.75 higher compared with the Prior Day settlement ($52.64, weighted average on 11,195 head). The corn trade finished generally a nickel higher, following a bullish USDA supply and demand report. U.S stocks closed higher as traders rebounded following a strong pullback early in the week. The Dow closed 117 points higher with the Nasdaq up 47.