DTN Closing Livestock Comment 12/06 16:50

DTN Closing Livestock Comment 12/06 16:50 Triple-Digit Gains Hold in Livestock Futures Tuesday Sharp gains quickly developed through livestock futures Tuesday with triple-digit gains seen in both cattle and hog markets. The aggressive moves in live cattle trade were a significant shift from the narrow trading range through morning activity. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle trade started to develop through the Tuesday session with just a handful of cattle selling at $112 per cwt. This is not enough to establish a test, but prices are $4 to $5 per cwt lower than last week. The potential for additional direction later in the week may spark increased activity based on further moves in futures trade. 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 $1.99 higher compared with the Prior Day settlement ($43.50-$51.00, weighted average $49.52). The corn trade settled moderately higher as traders took a breather from the strong double-digit rally seen Monday. The Dow closed 35 points higher with the Nasdaq up 24.