DTN Closing Livestock Comment 06/12 16:11
12 Jun 2017
DTN Closing Livestock Comment 06/12 16:11 Cattle Complex Futures Crash in Face of Aggressive Long Liquidation Live and feeder cattle futures tripped into the new week with triple-digit losses, pressured by long liquidation and cash uncertainty. Lean hog contracts settled mixed with July through October attracting most of the selling interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle country was typically quiet with activity limited to the distribution of new showlists. The new offering appears to be generally larger than last week, especially in the South. According to the closing report, the national hog base is .62 higher ($71.00-79.50, weighted average $77.22). The corn market got hit hard, losing a dime or more thanks to Monday's wetter seven-day forecast. The stock market closed lower with the Dow off 36 points and the Nasdaq down by 32. `