DTN Closing Livestock Comment 09/01 16:06

DTN Closing Livestock Comment 09/01 16:06 Livestock Gains Rekindle Buyer Interest Wednesday Prices bounced higher Wednesday in nearly all livestock futures as early week losses were offset by short-covering and commercial buyer support. Cattle futures eroded from session highs at the closing bell, but the ability to bring stability to the market is likely to rekindle interest in the last half of the week. By Rick Kment, DTN Contributing Analyst GENERAL COMMENTS: Live cattle futures are now focused on October contract following August's expiration. This has helped spark moderate underlying support, although most gains eroded at the end of the session. Feeder cattle futures posted the most aggressive support in deferred contracts as the continued pullback in grain prices will have further impact in spring and summer contracts where supply tightness is expected to be even more prevalent. Hog prices moved lower on the National Direct Afternoon Hog Report in light trade, down $3.42 with a weighted average of $89.53 on 4,031 head. December corn is down 11 1/2 cents per bushel and December soybean meal is down $2.10 per ton. The Dow Jones Industrial Average is down 52 points and NASDAQ is up 61 points.