DTN Closing Livestock Comment 02/07 15:42

DTN Closing Livestock Comment 02/07 15:42
   Strong Gains Develop Tuesday in Livestock Complex

   Additional buyer support quickly developed in both cattle and hog futures
Tuesday. This helped to draw increased trade interest into front-month live
cattle and lean hog futures with each contract posting triple-digit gains.
Additional commercial buyer support is expected to remain solid through midweek.

By Rick Kment
DTN Analyst


   Cash cattle markets remain untraded Tuesday afternoon, although a few bids
have developed through the South. This has continued to draw additional
interest to the market, although a wide gap between asking prices and bids
remains, and may push active trade off until late in the week. Asking prices
are seen at $122 in the South and $192 to $194 per cwt in the North. According
to the closing report, the national hog base is $0.44 lower compared with the
Prior Day settlement ($63.00-$70.50, weighted average $67.15). The corn trade
turned higher in light activity. March futures posted a 4 3/4 cent gain
Tuesday. The Dow Jones Index is 37 points higher with the Nasdaq up 10 points.