DTN Closing Livestock Comment 06/05 16:02

DTN Closing Livestock Comment 06/05 16:02 Feeder Cattle Futures Surge Higher Monday Strong follow-through gains redeveloped in feeder cattle Monday. This helped to spark additional moves in most of the cattle trade, helping to bring additional follow-through commercial support across the complex. Lean hog markets posted triple-digit losses as narrow early morning losses gained momentum as the day continued. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle activity is quiet Monday with showlist distribution and inventory the main orders of business through the day. Bids and offers remain undeveloped at this point in the week and are likely to stay that way until Tuesday or Wednesday. This could limit additional trade activity until later in the week, although cattle feeders are expected to enter the week rather bullish given the movement in futures markets. According to the closing report, the national hog base is $0.91 higher compared with the Prior Day settlement ($70.00-$76.00) weighted average $73.88. The corn futures moved higher in light activity. July futures were 1/4 cent higher Monday. The Dow Jones Index is 22 points lower with the Nasdaq down 10 points.