DTN Closing Livestock Comment 02/07 15:42
7 Feb 2017
DTN Closing Livestock Comment 02/07 15:42 Strong Gains Develop Tuesday in Livestock Complex Additional buyer support quickly developed in both cattle and hog futures Tuesday. This helped to draw increased trade interest into front-month live cattle and lean hog futures with each contract posting triple-digit gains. Additional commercial buyer support is expected to remain solid through midweek. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle markets remain untraded Tuesday afternoon, although a few bids have developed through the South. This has continued to draw additional interest to the market, although a wide gap between asking prices and bids remains, and may push active trade off until late in the week. Asking prices are seen at $122 in the South and $192 to $194 per cwt in the North. According to the closing report, the national hog base is $0.44 lower compared with the Prior Day settlement ($63.00-$70.50, weighted average $67.15). The corn trade turned higher in light activity. March futures posted a 4 3/4 cent gain Tuesday. The Dow Jones Index is 37 points higher with the Nasdaq up 10 points.