DTN Closing Livestock Comment 02/14 17:03

DTN Closing Livestock Comment 02/14 17:03 Strong Gains Developed in Livestock Futures Firm underlying support moved through the livestock futures complex. This helped to bring some additional trade volume to the market and pushed all contracts higher. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle activity remains at a standstill with bids redeveloping at $124 live basis. Asking prices are becoming more evident at $129-to-$130 live basis, but still not able to get much interest generated in the form of sales. The Fed Cattle Exchange Auction Wednesday listed a total of 255 head, with 0 actually sold, 164 head listed as unsold, and 91 head listed as PO (Passed Offer). The state by state breakdown looks like this: KS 255 total head, with 0 head sold, 164 head unsold, 91 head listed as PO ($124.00); NE -- no cattle reported; TX -- no cattle reported; CO -- no cattle reported; IA -- no cattle reported; other states -- no cattle reported. The delivery date/weighted averages breakdown is as listed: 1-9 day delivery: 255 head total, 0 head sold; 1-17 day delivery -- no cattle reported; 10-17 day delivery -- no cattle reported; 17-30 day delivery -- no cattle reported. According to the closing report, the national hog base is $0.88 per cwt lower with an average price of $66.85 per cwt (trading range: $60.00-to-$68.50). The corn futures are higher in light activity. March futures were 1/4 cent higher Wednesday. The Dow Jones Index is 235 points higher with the Nasdaq up 79 points.