DTN Closing Livestock Comment 07/21 16:26

DTN Closing Livestock Comment 07/21 16:26 Cattle Futures Closed Higher, Supported by Late Week Short-covering and Cash Stability At the conclusion of a choppy session, live and feeder cattle contracts settled moderately higher with feeders gaining on their live counterparts. Lean hog futures settled on a mixed basis with deferreds out preforming nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate trade volume developed in most areas of cattle country. Live business in the South was marked at $120.00, nearly steady with last week. Dressed business in the North ranged from $188.00-$190.00, generally $2.00 lower than last week. The National hog base closed off $0.88 compared with the Prior Day settlement ($78.00-$84.50, weighted average $83.33). From Friday-to-Friday livestock futures scored the following changes: Aug LC Off $1.38; Oct LC Off $1.17; Aug FC Off $1.32; Sep FC Off $0.92; Aug LH Up $1.20; Oct LH Off $12.68. Corn futures closed generally $0.11 lower, pressured by late week profit taking. Reports of blistering temperatures over parts of the Corn Belt did not seem to spark buying interest. The stock market closed lower with the Dow off 31 and the NASDAQ down by 2.