DTN Closing Livestock Comment 06/30 16:35
30 Jun 2017
DTN Closing Livestock Comment 06/30 16:35 Record Hog Population Prompts Big Rally in Lean Futures Lean hog futures closed significantly higher, with the first five contracts advancing by triple digits. The cattle complex settled mostly higher, supported by late week short-covering and technical buying. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle market Friday was very slow with just a handful of sales reported in parts of Nebraska. Trade volume totals look no better than moderate for the week, suggesting that feedlot managers will be offering a plate of leftovers when trade resumes after July 4th. The national hog base closed off $1.28 compared with the prior day settlement ($82-$88, weighted average $85.76). From Friday to Friday, livestock futures scored the following changes: Jun LC off $0.10; Aug LC up $1.03; Aug FC Up $2.97; Sep FC Up $3.62; Jul LH Up $5.32; Aug LH Up $5.10. Corn futures closed 11 cents higher, ignoring a larger-than-expected planting total. The stock market closed mixed with the Dow up 62 and the NASDAQ off 3.