DTN Closing Livestock Comment 07/09 16:30
9 Jul 2018
DTN Closing Livestock Comment 07/09 16:30 Lean Hog Futures Launch Week With Ugly String of Triple-Digit Losses Most hog contracts closed sharply lower, essentially pressured by fears of extended record pork production and inadequate demand. For the most part, the cattle complex settled moderately lower, checked by follow-through selling nervousness regarding cash stability through the second half of the summer. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot action was typically limited Monday to the distribution of new showlists. Ready numbers appear to be generally larger than last week with only Nebraska showing a few less. According to the closing report, the national hog base is $0.18 lower ($70.00-$77.50, weighted average $76.43). Corn futures stumbled 5-6 cents lower, quickly surrendering most of Friday's rally thanks to the general lack of constructive news. The stock market closed higher with the Dow up 320 points and the Nasdaq in the green by 67.