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DTN Closing Livestock Comment 12/03 16:04
Cattle Regain Some of Monday's Lost Position
Both the live cattle and feeder cattle markets regained some technical
footing throughout Tuesday's trade, but it will be imperative for the market's
continuation that fundamental support in the form of steady/stronger cash
cattle sales develop later this week.
ShayLe Stewart
DTN Livestock Analyst
GENERAL COMMENTS:
After trading sharply lower through Monday's end, the cattle contracts were
thankful for the opportunity to regain some of their lost footing in Tuesday's
market. Asking prices are noted in the cash market at $192 to $194 in the South
but are still not established in the North. March corn is down 1/4 cent per
bushel and January soybean meal is up $2.50. The Dow Jones Industrial Average
is down 76.47 points.
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