DTN Closing Livestock Comment 10/06 16:09

DTN Closing Livestock Comment 10/06 16:09 Cattle Futures Continue Higher Wednesday Active support in both live cattle and feeder cattle trade Wednesday helped stimulate additional market movement in all cattle trade. The ability to further push prices off recent lows is expected to bring about additional buyer interest and likely could change overall noncommercial outlook by the end of the week. By Rick Kment, DTN Contributing Analyst GENERAL COMMENTS: Livestock futures posted another day of cattle futures testing additional upward movement, while hog trade is focused on retracting prices from last week's highs. Although significant price moves were seen during the day, the volatility in the market appears to be slowly fading day to day, potentially leading to further long-term support in all markets. Traders will not only focus on end of the week meat values, but export sales reports released early Thursday morning is likely to pay a role in early trade volume. Hog prices moved lower on the National Direct Afternoon Hog Report in moderate trade, falling $1.25 with a weighted average of $70.01 on 8,001 head. December corn is down 5 1/4 cents per bushel and December soybean meal is up $1.50 per ton. The Dow Jones Industrial Average is up 102 points and NASDAQ is up 68 points.