DTN Closing Livestock Comment 06/13 15:43

DTN Closing Livestock Comment 06/13 15:43 Cattle Futures Tumble Late Tuesday Despite showing strong early day support, buyer interest quickly ran for the hills across the cattle complex during the second half of the trading session Tuesday. Feeder cattle futures led the market lower with triple-digit losses as uncertainty quickly flooded the market once again. Hog futures moved higher based on renewed fundamental support. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle activity remains undeveloped Tuesday afternoon with both packers and feeders looking for additional direction. The bids and asking prices have been unavailable at this point and may remain that way until midweek or later. It is expected that initial asking prices may start to be seen around $137 to $138 on a live basis, but it is uncertain just how early these numbers will be shown at this point. Just a few sales developed late Tuesday at $133 to $134 in the South and $215 to $217 in the North. But this is not likely enough to establish a trend at this point. Active trade may not be seen until late in the week. According to the closing report, the national hog base is $2.54 higher compared with the prior day settlement ($73-$82) weighted average $79.76. Corn futures moved higher in light activity. July futures were 3 cents Higher Tuesday. The Dow Jones Index is 92 points higher with the Nasdaq up 44 points. `