DTN Closing Livestock Comment 07/06 16:11
6 Jul 2017
DTN Closing Livestock Comment 07/06 16:11 Cattle Futures Staunch Bleeding, Close Significantly Higher The cattle complex staged an impressive rebound Thursday with the help of short-covering, profit-taking and signs of greater cash stability. Lean hog futures settled mixed thanks in part to the unwinding of bull spreads. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate trade volume was reported in most areas of feedlot country. Live sales in the South ranged from $117-$118, $1-$2 lower (mostly $118, $1 lower). Dressed biz in the North took placed around $188, $1-$2 lower than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.30 lower ($83-$89.50, weighted average $86.68). Corn futures settled a penny-plus lower, pressured by the new seven-day forecast that seemed to promise plenty of rain for much of the Midwest. The stock market closed under pressured with the Dow off 158 points and the Nasdaq down 61.