DTN Closing Livestock Comment 09/06 15:34

DTN Closing Livestock Comment 09/06 15:34 Hog Futures Surge Aggressive buyer support quickly swept into the lean hog complex Thursday, pushing front-month October futures $3 per hundredweight higher. The focus on potential global demand helped spark buyers' interest, but aggressive gains were limited to 2018 contract months. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade remains undeveloped with limited direction seen through the day. Although packer interest increased through the day with bids seen from $103 to $106 per hundredweight (cwt) live basis and $169 to $170 per cwt dressed, the overall lack of activity is causing both sides to become well rooted in their respective position. Asking prices remain near $110 to $111 live basis and $174 and higher dressed. It is possible that light trade could trickle in through the day Friday, but the potential for light-to-moderate trade developing late Friday is becoming a greater possibility. According to the closing report, the national hog base is $1.00 higher compared with the Prior Day settlement ($35-$41, weighted average $38.27). Corn futures were higher in light activity with the September contract closing 1 3/4 cents higher Thursday. Dow Jones Index was 34 points higher with Nasdaq down 82 points.