DTN Closing Livestock Comment 02/04 15:42

DTN Closing Livestock Comment 02/04 15:42 Livestock Futures Rally Monday Buyer interest went nearly unchecked late Monday, pushing hog and feeder cattle futures triple digits higher. This may allow the market to break away from the bearish tone seen during late January and result in renewed buyer activity. By Rick Kment DTN Analyst GENERAL COMMENTS: Sharp gains quickly redeveloped in all livestock trade Monday on technical shifts. Lean hog and feeder cattle futures posted sharp triple-digit gains with April lean hog futures leading the complex higher. The concern is how much follow-through support will redevelop over the next couple of days due to limited fundamental changes in either hog or cattle markets. Cash activity was undeveloped Monday with bids and asking prices nonexistent and likely to not be seen until midweek or later. Showlists appear to be generally larger, with gains seen in Kansas, Nebraska and Texas, while Colorado appears to be smaller. Active trade is expected to be pushed off until the second half of the week with Friday trade possible again. The National Daily Direct afternoon hog report was $0.21 higher ($46-$51.28, weighted average $50.59) on 5,972 head sold. Corn futures were higher in light activity with the March futures contract closing 1 cent higher. The Dow Jones Index was 175 points higher with the Nasdaq up 83 points.