DTN Closing Livestock Comment 12/13 16:48
13 Dec 2016
DTN Closing Livestock Comment 12/13 16:48 Firm Buying Redevelops in Cattle Market Moderate to strong gains developed in the cattle complex Tuesday as spillover buyer support moved back into the complex. Mixed market direction is developing in hog complex as traders adjust following strong market rally last week. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle markets remain quiet with bids still undeveloped and asking prices hard to find. It is expected that cattle will be priced at $115 per cwt live basis or higher, but trade volume may be delayed until the end of the week. According to the closing report, the national hog base is $0.03 higher compared with the Prior Day settlement ($45.50-$54.50, weighted average $53.28). The corn trade settled slightly higher in light trade in reaction to previous market pressure. The Dow closed 114 points higher with the Nasdaq up 51.