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DTN Closing Livestock Comment 02/22 15:57
   Strong Gains Developing in Hog Futures

   Aggressive buyer support moved into the nearby lean hog futures trade
Thursday. This continues to build off of midweek gains and increase the
distance from recent lows. Cattle markets continue to shift lower in light
trade.

By Rick Kment
DTN Analyst



   GENERAL COMMENTS

   Cash cattle trade has slowly trickled into the market over the past couple
of days. Prices are seen once again at $128 live basis, steady with Wednesday's
trade, but still $2 per cwt lower than last week. Dressed activity is slightly
more defined with trade at $204 to $205 per cwt. This is steady to $1 per cwt
lower than last week. It is expected that even though more trade may develop
Friday, the tone of the market has been set at these price levels. There could
be some additional market shifts in futures, but not a lot of direction is
expected to cash trade. According to the closing report, the national hog base
is $0.43 lower compared with the Prior Day settlement ($57-$64.25) weighted
average $63.50. March corn futures were 1 cent higher in light trade activity
Thursday. The Dow Jones Index is 164 points higher with the Nasdaq down 8
points.
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