DTN Closing Livestock Comment 09/12 15:53

DTN Closing Livestock Comment 09/12 15:53 Cattle Futures Firm Following Report Release Moderate to active buyer support developed and held across live cattle and feeder cattle trade. Thursday's WASDE report posted mixed results but remained overall positive for post report trade activity. Hog futures slipped lower in limited but defensive trade activity. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Triple-digit gains quickly flooded through the cattle complex as traders focusing on previous market shifts quickly and aggressively became active buyers Thursday. Momentum seen in nearby live cattle and feeder cattle contracts are a combination limited support from Thursday's WASDE report and a renewed late day shift in outside financial markets. October feeder cattle futures became the shining star of the livestock complex Thursday afternoon, leading the market higher with gains of $2.25 per cwt. All nearby cattle trade posted triple digit gains Thursday, which is creating some underlying hope that renewed support will continue to develop through the end of the week. Hog futures remained under pressure Thursday, as traders continue to search for support levels during early September. Hog prices closed lower on the Daily Direct Afternoon hog report, down $1.25 with a weighted average of $76.00 on 2,018 hogs. December corn closed up 1 1/4 at $4.06 and December soybean meal closed up $3.20 at $323.20. The Dow Jones Industrial Average is up 221.77 at 41,083.48.