DTN Closing Livestock Comment 06/17 15:38

DTN Closing Livestock Comment 06/17 15:38 Cattle Futures Close Week With Serious Technical Damage The cattle complex closed significantly lower with feeder issues stumbling with triple-digit losses. On the other hand, lean hog futures settled moderately lower, checked by late-week profit-taking and long-liquidation. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Jun LC, Off $5.73; Aug LC, Off $4.80; Aug FC, Off $8.13; Sep FC, Off $7.47, Jul LH, Up $0.47, Aug LH, Up $2.55. We're still waiting for the cash cattle trade to get started for the week. Trade volume remains very limited, and we've just seen a few isolated deals traded today (e.g. $192 basis Nebraska and Iowa). Although we assume that light volume will develop over the next several hours, actual buying and selling interest at this time is difficult to identify. It sounds like some showlists are priced around $123 in the South and $195 in the North. According to the closing report, the Iowa/Minnesota hog base is 0.61 lower compared with the Prior Day settlement ($74.00-$81.50, weighted average $80.70). Corn futures closed higher, up 12 1/2 cents in the July and up 13 in the December.