DTN Closing Livestock Comment 11/29 16:19

DTN Closing Livestock Comment 11/29 16:19 Cattle Futures Stabilize Following Sharp Early Losses Early pressure through cattle futures quickly followed the direction set by the weakness developing Monday. But firming fundamental support and lack of selling pressure helped to stabilize the market through midday, allowing for cattle markets to close mixed in a moderate trading range. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle markets remain undeveloped Tuesday with bids and asking prices generally quiet though most areas of cattle country. There are a few showlists in the South priced around $115 per cwt, but it is still hard to find enough interest to fully define good asking prices. Packers may step back into the market midweek. According to the closing report, the national hog base is $1.09 higher compared with the Prior Day settlement ($40.00-$45.50, weighted average $43.41). The corn trade settled 11 cents lower, following widespread grain market weakness through the complex. Concerns of pressure in supply and demand weakness through the market added to the softness in the corn market. The Dow closed 23 points higher with the Nasdaq up 11.