DTN Closing Livestock Comment 06/27 16:16
27 Jun 2019
DTN Closing Livestock Comment 06/27 16:16 Hog Futures Rally Thursday Strong underlying support developed in lean hog trade ahead of the hogs and pigs report. Hog inventory levels increased 4% from year ago levels, but much less aggressive growth developed over the last three months. By Rick Kment DTN Analyst GENERAL COMMENTS: Limited movement seen in cattle futures left traders subdued following the aggressive moves higher at midweek. Hog futures attracted most of the attention Thursday with triple-digit gains. Increased hog inventory in the quarterly hogs and pigs report may curb current support through the end of the month as traders assess current inventory levels and farrowing intentions. Corn futures ended lower Thursday in limited trade. July futures is 3 1/4 cents per bushel lower. Dow Jones Index is 10 points lower with Nasdaq up 57 points.