DTN Closing Livestock Comment 07/05 16:34
5 Jul 2017
DTN Closing Livestock Comment 07/05 16:34 Cattle Futures Return From Holiday in Very Bearish Frame of Mind Live and feeder contracts collapsed with triple digit losses, hammered by long liquidation and cash market worries. Lean hog futures settled generally higher with spot July setting another contract high. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light cattle trading was reported in parts of the North at $117 on a live basis, about $1.50 lower than last week's weighted average basis Nebraska. According to the closing report, the national hog base is .49 higher ($82.00-89.00, weighted average $86.96). Corn futures closed generally 4 cents higher, supported by hot and dry conditions. The stock market closed marginally lower in the Dow and 40 higher basis the Nasdaq.