DTN Closing Livestock Comment 06/10 16:03

DTN Closing Livestock Comment 06/10 16:03 Cattle Futures Close on the Defensive Live and feeder cattle futures closed sharply lower Friday, pressured by late-week long liquidation and beef demand worries. Lean hog contracts settled on a mixed basis in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Jun LC, Up $0.45; Aug LC, Off $0.45; Aug FC, Off $1.12; Sep FC, Off $1.05, Jun LH, Off $0.03, Jul LH, Off $0.27. The cash cattle market remained slow through most of Friday with light trade limited to parts of the North. Dressed sales ranged from $207 to $210, $1 to $3 higher than last week's weighted average basis Nebraska. However, trade in the South remains at a standstill at this time, even though business has not developed all week long. With bids at $128 and asking prices at $132, we still expect some business to surface later this afternoon. According to the closing report, the national hog base is $0.17 lower compared with the Prior Day settlement ($72.00-$80.00, weighted average $77.39). Corn futures closed down 3 1/2 cents in the July and down 2 3/4 cents in the December.