DTN Closing Livestock Comment 02/26 16:23

DTN Closing Livestock Comment 02/26 16:23 Traders Push Hog Futures Higher Tuesday Strong support quickly moved into livestock trade Tuesday with both cattle and hog futures seeing triple-digit gains, moving them away from long-term support levels. By Rick Kment DTN Analyst GENERAL COMMENTS: Strong support quickly moved into livestock trade Tuesday with triple-digit gains developing in both cattle and hog futures. This may add some uncertainty through the end of the week, as hog futures moved off support levels as traders look for any hint of long-term buyer interest. Cash cattle bids were undeveloped Tuesday due to a lack of packer interest at this point. A few initial asking prices were floated across the market with live cattle priced at $130 and higher, while dressed trade was at $206 and higher. End-of-the-week trade is expected to be seen again unless a major shift in futures trade develops. The National Daily Direct afternoon hog report was $1 lower ($42.75-$46.65, weighted average $45.29) on 14,517 head sold. Corn futures were lower in light activity with March down 4 1/4 cents per bushel. The Dow Jones Index was 33 points lower with the Nasdaq down 5 points.