DTN Closing Livestock Comment 05/30 15:54
30 May 2017
DTN Closing Livestock Comment 05/30 15:54 Feeder Cattle Futures Sharply Higher in Post-Holiday Trade Strong buying moved into feeder cattle futures Tuesday, providing support to live contracts also and offsetting losses seen Friday following the Cattle on Feed report. Nearby lean hog futures were pressured by position-taking following strong gains last week. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade remained at a complete standstill Tuesday afternoon. This is not unusual for a holiday-shortened week. Bids will likely to develop sometime Wednesday. Trade may not turn active until sometime Thursday or Friday. According to the closing report, the national hog base is $0.94 higher compared with the Prior Day settlement ($65.00-$74.00) weighted average $72.03. Corn futures moved lower in light trade. July futures were 7 cents Lower Tuesday. The Dow Jones Index is 41 points lower with the Nasdaq down 6 points.