DTN Closing Livestock Comment 01/02 16:07

DTN Closing Livestock Comment 01/02 16:07 Strong January Start for Hog Futures Lean hog futures saw strong support on the first trading session of 2019. This may bring additional buyer support back into the complex through the rest of the week. By Rick Kment DTN Analyst GENERAL COMMENTS: Moderate buyer support quickly moved into the lean hog trade on the first trading day of 2019. Even though prices pulled back from session highs, the focus on renewed market support is building momentum. Cattle futures closed mixed in light trade following strong triple-digit losses early Wednesday morning in feeder cattle markets. The ability to focus on potential cash market strength is helping hold live cattle futures firm. Cash cattle markets remain quiet midweek with limited activity seen from packers or feedlot managers. A few asking prices were seen in the South during the midweek session with live prices set at $125 per cwt. Active trade is likely to be reserved until Friday. According to the closing report, the national hog base is $0.93 higher with a weighted average of $46.53 per cwt. The full range was $42 to $48 per cwt. Corn futures are higher in light activity. March futures were 3/4 cent higher. The Dow Jones Index is 18 points higher with the Nasdaq up 30 points.