DTN Closing Livestock Comment 06/28 15:45
28 Jun 2019
DTN Closing Livestock Comment 06/28 15:45 Feeder Prices Respond to Cheaper Corn Cash cattle business transacted in Texas Friday was steady with last week's prices at $109. Most livestock futures contracts seem to be in a neutral pattern, but feeder cattle prices experienced a boost Friday after corn futures dropped 20 cents. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: From Friday to Friday, livestock futures scored the following changes: June live cattle up $3.95, August live cattle up $2.13, August feeder cattle up $3.17, September feeder cattle up $2.65, July lean hogs off $4.15, August lean hogs off $1.90. Amid a fairly quiet end-of-week, cash cattle business ranged from steady to $2 lower than last week. According the closing report, the national hog base is $0.80 lower ($61.00 to $70.00, weighted average $69.06). Corn futures closed sharply lower amid surprising acreage figures from USDA, but soybeans and soybean meal moved higher Friday. The stock market closed higher, up 17 points Friday in the S&P 500 and netting only slight losses for the week.