DTN Closing Livestock Comment 06/14 15:46
14 Jun 2016
DTN Closing Livestock Comment 06/14 15:46 Summer Lean Hog Futures Score New Contract Highs Nearby lean hog contracts closed sharply higher, powered by bull spreading and ideas of seasonally strong fundamentals. The cattle complex closed mostly higher with all issues settling substantially above session lows. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade remained untested today with both bids and asking prices poorly defined. Having said that, private sources did report a large string in Colorado marked at $125 ($5 lower than last week's limited test). According to the closing report, the Iowa/Minnesota hog base is unchanged compared with the Prior Day settlement ($75.00-$80.50, weighted average $79.69). Corn futures closed higher, up 6 1/2 cents in the July and December.