DTN Closing Livestock Comment 07/03 15:59
3 Jul 2018
DTN Closing Livestock Comment 07/03 15:59 Lean Futures Shake Off Bearish H&P Vibes and Close Impressively Higher Lean hog futures closed significantly higher with August through December jazzed by triple-digit gains. The cattle complex settled mostly higher thanks to follow-through buying and pre-holiday short-covering. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade Tuesday was about as exciting as a wet sack of fireworks. A few showlists were priced around $112 live and $175 plus dressed. According to the closing report, the national hog base is $0.16 higher ($68-$79.50, weighted average $77.70). The corn trade bounced about a nickel higher, recovering less than half of Monday's crash with the help of light commercial-buying and short-covering. The stock market closed 132 points lower with the Nasdaq off 65.