Strong buyer support quickly moved into the cattle complex Tuesday. The combination of market moves over the past two trading sessions has helped to instill additional underlying support through the market.
Cash cattle activity remains quiet with very little interest seen through the market. A handful of trade developed in Kansas at $123 per cwt. There is likely to be more interest developing Wednesday morning, although active trade may not be seen until Thursday or Friday. According to the closing report, the national hog base is $0.25 lower compared with the Prior Day settlement ($62.00-$70.50, weighted average $69.41).
Corn futures are lower in light activity. March futures were 3/4 cent lower Tuesday. The Dow Jones Index is 3 points lower with the Nasdaq up 52 points.