DTN Closing Livestock Comment 02/12 16:00

DTN Closing Livestock Comment 02/12 16:00 Nearby Hog Futures Close Triple Digits Higher Aggressive follow-through buying pushed lean hog futures triple digits higher Tuesday, boosting nearby contracts well off recent long-term lows. By Rick Kment DTN Analyst GENERAL COMMENTS: Lean hog futures saw triple-digit gains Tuesday as traders focused on growing fundamental support as well as technical shifts in the market. Cattle futures, on the other hand, saw limited direction due to inactive trading. Cash cattle interest remained slow to develop with a few token bids starting to develop in Nebraska on Tuesday. These bids are listed at $198 per cwt, which is not bad for starter bids. Generally, though, asking prices and bids are sketchy at this point and will likely not see more definition until Wednesday or later. Most cattle trade is expected to be pushed off until Thursday or Friday. The National Daily Direct afternoon hog report is $0.69 lower ($45-$49.45, weighted average $48.19) on 16,515 head sold. Corn futures were higher in light activity with the March contract up 5 1/2 cents. The Dow Jones Index was 372 points higher with Nasdaq up 106 points.