DTN Closing Livestock Comment 06/15 15:58
15 Jun 2016
DTN Closing Livestock Comment 06/15 15:58 Cattle Futures Collapse With Triple-Digit Losses The cattle complex closed sharply lower, pressured by massive long liquidation, aggressive technical selling and cash market worries. Lean hog futures settled on a mixed basis with nearbys generally losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Scattered feedlot sales were reported in several areas with prices significantly lower than last week. Some live cattle in the South were marked at $123, $5 lower than last week's weighted average. A few dressed deals in the North were marked at $197 to $198, $7 to $8 lower than last week's weighted average basis Nebraska. According to the closing report, the Iowa/Minnesota hog base is 0.54 higher compared with the Prior Day settlement ($79.00-$81.00, weighted average $79.63). Corn futures closed lower, down 7 1/2 cents in the July and down 7 in the December.