DTN Closing Livestock Comment 02/22 15:57

DTN Closing Livestock Comment 02/22 15:57 Strong Gains Developing in Hog Futures Aggressive buyer support moved into the nearby lean hog futures trade Thursday. This continues to build off of midweek gains and increase the distance from recent lows. Cattle markets continue to shift lower in light trade. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade has slowly trickled into the market over the past couple of days. Prices are seen once again at $128 live basis, steady with Wednesday's trade, but still $2 per cwt lower than last week. Dressed activity is slightly more defined with trade at $204 to $205 per cwt. This is steady to $1 per cwt lower than last week. It is expected that even though more trade may develop Friday, the tone of the market has been set at these price levels. There could be some additional market shifts in futures, but not a lot of direction is expected to cash trade. According to the closing report, the national hog base is $0.43 lower compared with the Prior Day settlement ($57-$64.25) weighted average $63.50. March corn futures were 1 cent higher in light trade activity Thursday. The Dow Jones Index is 164 points higher with the Nasdaq down 8 points.