DTN Closing Livestock Comment 12/09 15:47

DTN Closing Livestock Comment 12/09 15:47 Cattle Futures Firm Monday Active buyer support in nearby live cattle trade early Monday has helped stimulate firm gains in live cattle and feeder cattle trade Monday afternoon. Hog futures eroded from previous buyer support as traders look for additional direction from cash values and wholesale pork prices. Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures remain mixed in light to moderate trade on Monday afternoon. Limited early outside market direction left many livestock traders on the sidelines searching for additional direction, late day moves in financial and energy markets narrowed early gains in the cattle complex. Cattle futures moved higher with morning gains establishing strong gains, but a minimal pullback through the last half of the session made market shifts less impressive. Hog futures shifted lower with traders attempting to square positions following recent strong market support. Hog prices closed higher on the Daily Direct Afternoon hog report, up $0.89 with a weighted average of $81.02 on 7,402 hogs. March corn closed up 1 3/4 at $4.418 and January soybean meal closed up $2.20 at $289.6. The Dow Jones Industrial Average is down 240.59 at 44,401.93.