DTN Closing Livestock Comment 05/20 16:00
20 May 2016
DTN Closing Livestock Comment 05/20 16:00 Summer Lean Hog Futures Surrender More Premium Lean hog futures closed moderately lower, pressured by follow-through selling and softer fundamentals. On the other hand, the cattle complex settled on a mixed basis as traders positioned ahead of cash and on feed news. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade remained slow in developing, especially in the North. A few dressed sales in Nebraska were reported at $206, $2 to $3 lower than last week's weighted average. Yet, a decent business never did develop with weekly trade volume totals ending small. According to the closing report, the national hog base is $0.35 lower compared with the Prior Day settlement ($67.00-$76.00, weighted average $74.69). Corn futures closed higher, up 4 1/2 cents in the July and up 2 1/2 cents in the December.