DTN Closing Livestock Comment 03/05 17:04

DTN Closing Livestock Comment 03/05 17:04 Lean Hog Futures Extend Rally Lean hog futures rallied Tuesday on follow-through buyer support. This helped to spark some additional buyer activity through the rest of the livestock market. Cattle futures stabilized, with renewed buyer interest seen in spot April. By Rick Kment DTN Analyst GENERAL COMMENTS: Lean hog futures saw firm gains Tuesday as increased buyer support is starting to filter back into the market now that traders appear content that the lows have been set. Live cattle futures were mixed in sluggish trade as traders look for increased underlying support. The April contract moved higher. Limited direction was seen in cash cattle trade through the end of the day Tuesday. Bids and offers were still undeveloped, as both sides appear to be waiting for the other side to show their hand first. Interest is expected to improve through the next couple of days, although trade may not develop until Friday. The National Daily Direct afternoon hog report was $0.36 lower ($41.50-$46.25, weighted average $44.55) on 17,315 head sold. Corn futures were higher in light activity with May up 1 cent per bushel. The Dow Jones Index was 13 points lower with the Nasdaq down 2 points.