DTN Closing Livestock Comment 06/13 15:58
13 Jun 2016
DTN Closing Livestock Comment 06/13 15:58 Cattle Futures Implode Lower Live and feeder cattle futures closed sharply lower with many issues settling down the limit. On the other hand, lean hog futures finished on a mixed basis with late-summer contracts gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was typically quiet as packers focused on the collection of new showlists. Ready numbers appear to be generally larger than last week. Asking prices were not established with both buyers and sellers confused by sharp losses in futures. According to the closing report, the Iowa/Minnesota hog base is $1.06 higher compared with the Prior Day settlement ($75.00-$80.50, weighted average $79.66). Corn futures closed higher, up 7 cents in the July and up 9 1/4 cents in the December.