DTN Closing Livestock Comment 06/26 16:08
26 Jun 2017
DTN Closing Livestock Comment 06/26 16:08 Cattle Futures Reverse From Lower Opening to Close With Triple-Digit Gains Live and feeder futures closed sharply higher with the help of aggressive short-covering and ideas of cash stability. Lean hog issues settled higher with spot July commanding most of the buying interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Action in feedlot country was typically slow as the new week began with packers focusing exclusively on the gathering of new showlists. Ready numbers are generally smaller than last year with only Colorado offering a steady supply. According to the closing report, the national hog base is .02 higher ($82.00-87.50, weighted average $85.82). Corn futures settled 1-2 cents higher thanks to light short-covering. The stock market closed on a mixed basis with the Dow up 14 points and the Nasdaq off 18.