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DTN Closing Livestock Comment 05/05 15:34
   Late-Day Rally Pushes Cattle Futures Higher

   Lack of market consistency was seen through most of the session with a
moderate to strong market selloff in the middle of the trading session being
covered by strong early and late market support.

By Rick Kment
DTN Analyst


   Tuesday remained quiet through cash cattle market activity, although that is
not surprising as many market watchers appear to be focused on another
end-of-the-week showdown. Asking prices remain around $163 in the South and
$260-plus in the North. According to the closing report, the Iowa hog base
closed $0.41 higher compared with the Prior Day settlement ($67.50-$77.00,
weighted average $76.15). Corn futures rebounded in late trade as planting
progress pressure seen early in the session seemed to quickly lose the
attention of most traders. Equities closed lower on Tuesday, as lack of support
following the early week rally seemed to create some underlying softness
through the market. The Dow closed 142 points lower with the Nasdaq down 77
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