DTN Closing Livestock Comment 02/04 15:58
Cattle Futures Continue Lower Tuesday

Sharp losses redeveloped Tuesday as traders remain concerned about further
price pressure after posting record highs last week. Hog futures rebounded from
early week losses Tuesday.

Rick Kment
DTN Analyst

GENERAL COMMENTS:

Cattle futures posted strong follow-through losses Tuesday sparked by active
market pressure seen at the end of last week and continued Monday. The concern
that additional market softness may develop before technical support redevelops
may leave live cattle and feeder cattle trade vulnerable to further losses
midweek. Hog futures posted active gains, but given previous losses, it is
uncertain just how deep current buyer support remains. Hog prices closed higher
on the Daily Direct Afternoon hog report, up $1.97 with a weighted average of
$85.40 on 3,719 hogs. March corn closed up 5 3/4 at $4.945 and March soybean
meal closed up $10.30 at $314.00. The Dow Jones Industrial Average is up 134.13
at 44,556.04.