DTN Closing Livestock Comment 01/07 15:29
7 Jan 2019
DTN Closing Livestock Comment 01/07 15:29 Cattle Futures Rally Monday Strong support moved back into cattle futures Monday as traders look for increased market activity to develop following last week's adjustments. By Rick Kment DTN Analyst GENERAL COMMENTS: Strong buyer support has moved into the cattle complex with triple-digit gains quickly developing Monday. Early support in feeder cattle trade jumpstarted buyer interest, which quickly led to moderate-to-strong buying through the entire complex. Cash cattle activity remains at a standstill with new showlist distribution the extent of activity through the week. Overall, showlists appear to be mixed, increasing in Texas, while steady to smaller in all other areas. Hog futures are mixed in a narrow range as traders are processing the strong buyer support that developed last week. According to the closing report, the national hog base is $0.67 higher ($45.50-$50.50 per cwt, weighted average $48.87 per cwt). Corn futures are higher in light activity with March futures up 3/4 cent. The Dow Jones Index is 18 points higher with the Nasdaq up 30 points.