DTN Closing Livestock Comment 01/13 17:00

DTN Closing Livestock Comment 01/13 17:00 Cattle Futures Held Moderate Gains Following Wide Price Shifts Wide price swings developed through the cattle complex Wednesday as traders quickly stepped in and out of the market at several times through the trading session. Late-day buyer support helped to draw prices moderately higher before closing bell in nearby contract. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle trade posted very light trade Wednesday as additional sales developed with steady money as seen earlier in the week at $209 to $210 per cwt. There is expected to be a significant amount of trade still needing to be sold before the end of the week in order to meet packer demands, so this will likely create the focus on bringing bids to the table through the day Thursday. According to the closing report, the Iowa hog base is $0.69 higher compared with the Prior Day settlement ($53.33, weighted average on 5,848 head). March corn futures closed 1 cent higher in light sideways trade. U.S stocks closed sharply lower with additional focus being placed on economic uncertainty. The Dow closed 364 points lower with the Nasdaq down 159.