DTN Closing Livestock Comment 11/30 15:53

DTN Closing Livestock Comment 11/30 15:53 Livestock Futures Surge Higher as November Draws to Close The last day of November brought a surge of buyer support to livestock futures with active buying interest flooding into both the cattle and hog futures market. Hog markets posted moderate gains, driven primarily by fundamental support and cash market news. Cattle, on the other hand, posted triple-digit rallies, helped by outside markets. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle trade developed by the end of the day Wednesday with light trade seen in the South at $114 to $115, which is $3 to $4 per cwt higher than last week's average price. A few sales have been reported by regional packers in the North at $175, which is $2 higher than last week. Additional trade is expected to be seen through the end of the week. Asking prices are firming through the week with prices seen at $115 to $118 in the North and $180 to $182 in the South. Cattle sold on the Fed Cattle Exchange Auction had a total of 4,718 head total, with 4,070 head actually sold. The state break down is: KS 451 head, $113.00-$114.00; NE 2,607 head, $110.00-$113.25; TX 974 head, $112.75-$114.25; CO no test; IA no test; SD 38 head, $110.25. Compared to the previous week, that is anywhere from $1.75 higher to a full $9.00 higher in some areas. According to the closing report, the national hog base is $1.13 higher compared with the Prior Day settlement ($40.50-$47.00, weighted average $45.01). The corn trade settled steady to fractionally lower following pressure in through the rest of the grain complex despite strong gains in energy markets. The Dow closed 2 points higher with the Nasdaq down 56.