DTN Closing Livestock Comment 06/22 16:03
22 Jun 2016
DTN Closing Livestock Comment 06/22 16:03 Nearby Lean Hog Issues Stumble With Triple-Digit Losses Hog futures closed sharply lower, pressured by long liquidation and fears that the midsummer rally was now fully anticipated. On the other hand, the cattle complex settled mostly higher with the feeder issues gaining on their live counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light trading was reported in parts of feedlot country with $116 paid in parts of Kansas, Texas, Nebraska, and Colorado (i.e., steady with Tuesday but $5 below last week). According to the closing report, the national hog base is $0.05 higher compared with the Prior Day settlement ($74.00-83.00, weighted average $81.19). 2016 corn futures finished 3-4 cents lower, checked by follow-through selling and decent rainfall in parts of Iowa and Indiana. U.S. stocks closed lower as investors remained on edge ahead of the U.K. vote on whether to leave the European Union. The Dow is off 48 points with the Nasdaq down by 10.