DTN Closing Livestock Comment 01/28 15:43

DTN Closing Livestock Comment 01/28 15:43 Renewed Feeder Cattle Buying Boosts Cattle Futures Strong buyer interest developed in feeder cattle trade Monday, as the market backed away from previous losses last week. This fundamental support also sparked buying in the live cattle market. By Rick Kment DTN Analyst GENERAL COMMENTS: Live and feeder cattle futures saw firm gains Monday as traders tried to adjust positions following losses late last week. The tone of cattle trade is starting to firm once again with live cattle prices nearing contract highs. Hog futures shifted lower in most contract months with the weaker tone of the market offset by limited short-covering. Activity in the cash cattle market has remained quiet following steady-to-lower trade seen late last week. New Showlists are generally smaller, with gains in Colorado offset by lower offerings in all other states. Bids and asking prices are undeveloped and are likely to remain quiet until midweek or later. The National Daily Direct Hog reports were delayed due to packer submission problems. Cash hog prices were unavailable at the time these comments were posted. Corn futures ended lower in light activity with the March contract 1/2 cent lower. The Dow Jones Index is 235 points lower with the Nasdaq down 83 points.