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DTN Closing Livestock Comment 12/11 15:39


DTN Closing Livestock Comment 12/11 15:39
Feeder Prices Surge Higher Tuesday

Aggressive buyer support quickly flooded into feeder cattle futures Tuesday,
sparking triple-digit gains in all contracts and expanded recent gains off of
short-term lows. Follow-through buying developed across the livestock complex
through the session.

By Rick Kment
DTN Analyst



GENERAL COMMENTS: Cash cattle activity remains sluggish Tuesday with bids
and asking prices not fully established at this point. It is expected to be
Thursday or Friday before active trade develops, although packer interest
should start to improve sometime Wednesday. A few asking prices have surfaced
with cattle priced at $122 per cwt live basis. It is not certain that these
asking prices will develop in other areas through the week, but levels in this
range are likely. According to the closing report, the national hog base is
$0.58 lower compared with the Prior Day settlement ($42.00-$47.89, weighted
average $46.58).