DTN Closing Livestock Comment 06/09 16:13
9 Jun 2016
DTN Closing Livestock Comment 06/09 16:13 Cattle Futures Settle Narrowly Mixed, Concluding Lightly Tested Session Live and feeder issues closed with uneven results on Thursday as traders positioned ahead of late-week cash. Lean hog futures also finished on mixed basis with late-summer contracts losing ground to both spot June and far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cash cattle players barely moved a muscle Thursday as token bids (e.g., $124 live, $202-$205 dressed) remained far below asking prices of $132 in the South and $210 in the North. According to the closing report, the national hog base is $0.39 lower compared with the Prior Day settlement ($69.00-$81.25, weighted average $77.57). The corn trade closed 3-4 cents lower, trimmed by profit-taking and forecasts of rain early next week for much of the Midwest. U.S. stocks closed lower, pressured somewhat by a pullback in oil prices from multi-month highs and a decline in global benchmark yields. The Dow settled 19 points lower with the Nasdaq down 16.