DTN Closing Livestock Comment 06/29 16:51
29 Jun 2017
DTN Closing Livestock Comment 06/29 16:51 Lean Hog Futures Rally on Verge of Hogs and Pigs News Lean hog contracts closed higher hours before the release of the June 1 H&P inventory with summer issues speeding ahead of deferreds. The cattle complex also settled in the green with the majority of issues advancing by triple digits. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate cash trading surfaced in most feeding states Thursday at lower prices. Live sales in the South were marked at $119, mostly $3 lower than last week. On the other hand, the lion's share of dressed biz in the North took placed at $189, $4-$5 lower. According to the closing report, the national hog base is $1.57 higher ($81.00-$89.50, weighted average $87.12). Corn futures finished generally 3 cents higher, boosted by spillover support from wheat and suggestions the drought in the northwestern Plains may be moving into parts of Nebraska and Oklahoma. The stock market closed lower with the Dow off 168 points and the Nasdaq down by 90.