DTN Closing Livestock Comment 06/09 16:29

DTN Closing Livestock Comment 06/09 16:29 Cash Cattle Trade Slow to Develop Friday Afternoon Futures trade remained light late in the week, while cash cattle trade was pushed off until late Friday afternoon. At the time of closing comments, cash cattle markets were still lightly traded, with markets ranging from $1 lower to $4 higher across cattle country. By Rick Kment DTN Analyst GENERAL COMMENTS From Friday to Friday, livestock futures scored the following changes: Jun LC, Up $0.43; Aug LC, Off $2.20; Aug FC, Off $4.55; Sep FC, Off $4.20; Jun LH, Up $1.25; Jul LH, Up $0.73. Cash cattle trade remained sluggish through the afternoon Friday with activity likely to stretch into late day as packers and feeders were unable to come to early terms. Light trade was seen in the North through the day Friday with prices seen at $218 to $220 per cwt dressed basis and $136 to $137 live basis. But, at the time these comments were posted, trade was still sluggish in the South with a few sales in Kansas developing at $137 per cwt, which is $1 per cwt lower than last week's state average. Bids were holding at $134 to $136 live basis. Asking prices remained firm, which may cause additional focus on higher late-day money if packers desired to gain access to cattle. The cattle sold were seen steady to $4 per cwt higher than last week. According to the closing report, the national hog base is $0.11 higher compared with the Prior Day settlement ($73.00-$78.50) weighted average $76.61. Corn futures moved higher in light activity. July futures were 2 cents higher Friday. The Dow Jones Index is 89 points higher with the Nasdaq down 113 points.