DTN Closing Livestock Comment 02/15 15:20

DTN Closing Livestock Comment 02/15 15:20 Strong Beef Prices Support Live Cattle Futures Trading volume in livestock futures picked up its pace through the Wednesday session. Feeder cattle prices moved higher, but live cattle and lean hog futures mostly pulled back gains made previously in the week. Elaine Kub Contributing Analyst GENERAL COMMENTS: Jumps in beef and pork prices at the midpoint of this week helped to add some stable optimism to the live cattle and lean hog futures markets Wednesday, although they ended the session with some lightly lower corrections. In the cash cattle market, asking prices are around $163 in the South but still not established in the North, and major trading isn't expected until Thursday or Friday. The National Direct Afternoon Hog Report showed purchased swine prices up $1.17 to a weighted average of $77.36 on 13,658 head. Prices ranged from $67 to $80, and the 5-day rolling average is now $76.85. March corn closed down 6 cents to $6.76 1/4 per bushel and March soybean meal closed down $9.90 per ton to $491.10. The Dow Jones Industrial Average was up 39.07 points and the NASDAQ was up 97 points.