DTN Closing Livestock Comment 07/14 16:11
14 Jul 2017
DTN Closing Livestock Comment 07/14 16:11 Anticipating Larger Third Quarter Supplies, Lean Hog Futures Closed Sharply Lower For the most part, lean hog futures closed significantly lower with August through February suffering triple-digit losses. On the other hand, the cattle complex settled solidly higher with triple-digit gains dominating the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Given moderate trade volume on Wednesday and Thursday, cattle buyers didn't find it necessary to do much shopping Friday. Besides a few scattered sales in several states, the late-week trade was pretty much at a standstill. The National hog base closed off $0.40 compared with the Prior Day settlement ($81.00-$87.50, weighted average $86.40). From Friday to Friday livestock futures scored the following changes: Aug LC Up $3.03; Oct LC up $4.75; Aug FC Up $9.25; Sep FC Up $9.05; Jul LH Up $0.88; Aug LH Off $3.32. Corn futures closed generally six cents higher, supported by late week profit-taking and general production uncertainty. The stock market closed higher with the Dow off 84 points and the NASDAQ better by 38.