DTN Closing Livestock Comment 07/29 16:02

DTN Closing Livestock Comment 07/29 16:02 Bearish Lean Hog Future Close Week With Mixed Session Lean hog futures settled on a mixed basis with far deferreds generally gaining on nearbys. The cattle complex also settled with uneven prices, scrambled by late-week liquidation and short-covering. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Aug LC, Up $3.12; Oct LC, Up $3.65; Aug FC, Up $2.85; Sep FC, Up $2.75, Aug LH, Off $6.30, Oct LH, Off $4.85. The cash cattle trade remains limited at this time with feedlot managers holding for higher bids. Some feedlot business has been reported in the South at $116, $1 higher than last week. Scattered dressed sales have been noted in parts of the North at $188, $3 higher than last week's weighted average basis Nebraska. Greater trade volume could develop late today if packers move closer to higher asking prices of $118-plus in the South and $190-plus in the North. According to the closing report, the national hog base is $0.63 lower compared with the Prior Day settlement ($61.00-$68.25, weighted average $65.99). Corn futures settled up 3 1/4 cents in the September contract and up 4 cents in the December.