DTN Closing Livestock Comment 06/28 17:42
28 Jun 2018
DTN Closing Livestock Comment 06/28 17:42 Cattle Futures Close Substantially Higher For the most part, the cattle complex settled solidly higher. Lean hog issues closed on a mixed basis with nearbys gaining a good deal on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Thursday's cash cattle trade was limited to just a few scattered deals across the feeding area at prices generally steady with Wednesday's retreat (i.e., $106 live; $169-$170 dressed). According to the closing report, the national hog base is $0.08 higher ($69-$78.50, weighted average $77.10). Corn futures fell hard in late selling with old- and new-crop contracts losing 6-7 cents plus. Bears seemed to ignore the uncertainty linked to Friday's USDA report on stocks and acreage. Equities closed higher with the Dow up 98 points and the Nasdaq better by 58.