DTN Closing Livestock Comment 06/16 16:21

DTN Closing Livestock Comment 06/16 16:21 Cattle Paper Closes Lower But Significantly Above Session Lows Late-session short-covering in the cattle complex worked to minimize price damage on the close. Lean hog futures settled moderately higher with the August contract attracting the most buying interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Thursday's cash cattle test was limited to scattered sales in selected parts of the South and North. A few live steers and heifers were marked in Kansas at $121, $2 lower than Wednesday and $7 below last week. Several pens of dressed cattle in Nebraska sold at $195-$196, $2 below Wednesday and $9-$10 lower than last week's weighted average. According to the closing report, the national hog base is $0.84 higher compared with the Prior Day settlement ($73.00-$82.00, weighted average $80.35). Corn futures settled 3-4 cents lower, pressured by broad-based commodity selling linked to the pending Brexit vote and corresponding dollar strength. U.S. stocks came well off session lows as selling in the British pound eased against the dollar. The Dow closed 92 points higher with the Nasdaq positive by 9.