DTN Closing Livestock Comment 03/07 16:03

DTN Closing Livestock Comment 03/07 16:03 Mixed Trade Keeps Livestock Futures Unsettled Strong, triple-digit losses were seen in the hog complex through most of Wednesday's session. Even though prices pulled back from session lows, the tone of the market remains under pressure. Cattle futures moved higher, but were challenged with holding these gains. By Rick Kment DTN Staff Reporter GENERAL COMMENTS Cash cattle activity remains quiet with traders focusing on the extremely light trade Tuesday. This seems to have set the tone for steady to firm market activity, but packers and feedlot managers seem to be unable to get a price agreement established. Bids are at $126 live, steady with early week trade, and $202 to $204 per cwt dressed. Asking prices remain at $128 to $130 live and $207 and higher. The Fed Cattle Exchange Auction today listed a total of 474 head, with 387 actually sold, 0 head listed as unsold, and 87 head listed as PO (Passed Offer). The state by state breakdown looks like this: Kansas 229 total head, with 142 head sold at $126.00, 0 head unsold, 87 head listed as PO ($126.00); Nebraska no cattle reported; Texas 245 total head, with 245 head sold at $126.00, 0 head unsold, and 0 head listed as PO; Colorado no cattle reported; Iowa no cattle reported; other states (Oklahoma, South Dakota, Minnesota) no cattle reported. The delivery date/weighted average breakdown is as listed: 1-9 day delivery: 474 head total, 387 head sold, with a weighted average price of $126.00; 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 $0.16 higher compared with the prior day settlement ($56.00-$63.50) weighted average $62.51. The corn futures are lower in light activity. March futures were 1/2 cent lower Wednesday. The Dow Jones Index is 82 points lower with the Nasdaq up 24 points.The corn futures are lower in light activity. March futures were 1/2 cent lower Wednesday. The Dow Jones Index is 82 points lower with the Nasdaq up 24 points.