DTN Livestock Close: Futures Generate Short-Covering Interest, Spec-Buying

After two staggering sessions of limit losses, lean hog futures, for the most part, recovered with triple-digit gains. The cattle complex managed a smaller rebound, supported by profit-taking and the premium status of recent feedlot sales.

GENERAL COMMENTS

Feedlot country remained pretty much at a standstill with just a few scattered sales reported in parts of Iowa. According to the closing report, the national hog base is $0.08 lower ($68-$76, weighted average $75.21).

Corn futures settled as much as 5-6 cents higher, supported by lower-than-expected ending stocks estimated by USDA Thursday. The stock market staged a decent recovery with the Dow closing 224 points higher with the Nasdaq up 107.

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