DTN Closing Livestock Comment 02/25 15:44

DTN Closing Livestock Comment 02/25 15:44 Hog Futures Under Pressure Again Monday Lean hog futures saw triple-digit losses again Monday, sparking renewed concerns about bearish fundamentals and the potential to shatter price support levels. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock trade was limited Monday. Sharp triple-digit losses in early in nearby lean hog futures set a weaker tone, but hog futures were able to eventually move off morning lows as contracts fell $1 to $1.65 per cwt lower in nearby trade. Cattle futures were mixed in a narrow trading range, as corn and hog market pressure eroded firm morning buyer support. Cash cattle markets were quiet Monday afternoon following the sluggish market last week. Bids and asking prices are undeveloped. This is not unexpected at this point, as both sides are likely to be holding out for direction from futures trade and beef price changes. Showlists appear to be generally larger, which would be expected given the limited trade seen last week in cash markets. The National Daily Direct afternoon hog report was $0.49 lower ($43-$47, weighted average $46.41) on 4,815 head sold. Corn futures were lower in light activity with March down 4 3/4 cents per bushel. The Dow Jones Index was 105 points higher with Nasdaq up 41 points.