DTN Closing Livestock Comment 06/02 16:19

DTN Closing Livestock Comment 06/02 16:19 Nearby Cattle Futures Close Bullish Week With Triple-Digit Gains Cattle futures closed mostly higher, though buying energy was especially focused on nearby contracts. Lean hog futures settled narrowly mixed in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was limited to scattered sales in parts of the North. Prices included $137.50 on a live basis and $216.00-$220.00 dressed. For the most part, activity was essentially completed on Thursday thanks to aggressive packer spending. The national hog base closed off $0.39 compared with the prior day settlement ($69.00-$75.00, weighted average $72.98). From Friday to Friday, livestock futures scored the following changes: Jun LC Up $8.12; Aug LC up $7.10; Aug FC Up $11.77; Sep FC Up $11.07; Jun LH Off $0.60; Jul LH Up $0.07. Corn futures closed roughly 2 cents higher, supported by spillover buying from the bean market and uncertain production potential in the growing season ahead. Ignoring the disappointing jobs report, the stock market closed higher. Indeed both the Dow and NASDAQ scored new all-time highs up 62 and 58 respectively.