DTN Closing Livestock Comment 06/22 15:58
22 Jun 2017
DTN Closing Livestock Comment 06/22 15:58 Red Ink Covers All Meat Futures The cattle complex settled significantly lower, pressured by further long liquidation and technical selling. Lean hog issues closed seriously lower as well, checked in part by bull spreaders taking profits. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Activity in feedlot country was limited to scattered sales (i.e., $120 in Kansas, $2 lower than Wednesday, $11 below last week). Some producers might have traded more cattle, but were discouraged by still lower bids. According to the closing report, the national hog base is .71 lower ($84.00-88.00, weighted average $86.09). Corn futures settled generally 6 cents lower, pressured by forecasts for mild summer temperatures over the next 10 days. The stock market closed on a mixed basis, up 2 points on the Nasdaq and off 12 on the Dow. `