DTN Closing Livestock Comment 11/13 15:56

DTN Closing Livestock Comment 11/13 15:56 Feeder Cattle Futures Surge Higher Tuesday Late day buying activity flooded the feeder cattle futures complex in the last hour of trade Tuesday afternoon. This renewed commercial support focused on weaker outside markets, which will lead to lower production and feed costs. Limited support moved through the rest of the livestock complex late Tuesday. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle activity has remained completely undeveloped Tuesday with bids and asking prices yet to be seen. The strong support in feeder cattle futures that sparked late day live cattle futures strength may create some interest. But for now, packers and feeders seem confident to wait until later in the week before entering the ring. Active trade is not expected until late in the week, while packers should become more active in the next day or so. According to the closing report, the national hog base is $1.33 lower compared with the prior day settlement ($47.00 to $52.44) weighted average $51.61. Corn futures are lower in light activity. December futures were 4 3/4 cents lower. Dow Jones Index is 110 points lower with Nasdaq up 7 points.