DTN Closing Livestock Comment 06/01 15:38
1 Jun 2016
DTN Closing Livestock Comment 06/01 15:38 Lean Hog Futures Close Solidly Higher, Supported By Appreciating Carcass Value Lean hog contracts closed significantly higher with late-summer contracts gaining on spot June and far deferreds. The cattle complex settled on a mixed basis thanks to a combination of long liquidation and short-covering. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was not tested Wednesday with bids few and far between. A few southern showlists were priced around $130-plus. Significant trade volume may not develop until sometime Friday. The Iowa hog base closed $1.60 higher compared with the Prior Day settlement ($72.00-$76.50, weighted average $74.52). Corn futures closed up 9 cents in the July contract and up 7 3/4 cents in the December.