DTN Closing Livestock Comment 09/23 15:19

DTN Closing Livestock Comment 09/23 15:19 Active Gains Hold as Expectations Grow The combination of lighter cattle numbers in Friday's cattle on feed report, and expectations that positive pork trade may develop over the near future, is helping to solidify buying activity. By Rick Kment DTN Analyst GENERAL COMMENTS: Firm buyer support developed Monday, although buyer intensity increased as the day continued. Live cattle futures lead the complex higher with a $2.50 per cwt rally in October contracts and $2.62 per cwt rally holding in December trade. Hog buyers returned to the complex on the hope that renewed trade may be seen in the near future as China remains focused on increasing pork supplies. Corn prices shifted higher Monday. December corn futures are 2 cents higher. Stock markets are higher in light trade. Dow Jones is 53 points higher with NASDAQ up 9 points. Cash cattle markets remain quiet with bids and asking prices undeveloped Monday. This early in the week, it is normal that cash markets are undirected and quiet with no significant activity expected until later in the week. Show lists appear to be mixed; higher in Texas, while lower in all other areas. Given the support in futures trade, feedlot managers are expected to increase asking prices in order to further the cash market gains seen last week. National Daily Direct afternoon hog report is $0.46 higher with a weighted average of $44.72 per cwt. Full range of $39 to $46 per cwt. Total volume reported is 13,067 head.