DTN Closing Livestock Comment 08/04 16:30

DTN Closing Livestock Comment 08/04 16:30 Lean Hog Futures Stage Late-Week Rally Lean hog contracts closed significantly higher with nearby issues racing ahead of deferreds. On the other hand, cattle futures closed mostly lower, pressured by late-week long-liquidation and late-summer supply worries. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade Friday was limited to scattered sales in parts of Nebraska and Texas. Prices were generally steady with Wednesday's firmness, though generally $1.00 higher than last week. The National hog base closed up $0.32 compared with the Prior Day settlement ($73.00-$82.00, weighted average $79.82). From Friday to Friday livestock futures scored the following changes: Aug LC Up $2.55; Oct LC up $1.68; Aug FC Up $3.90; Sep FC Up $3.75; Aug LH Up $1.82; Oct LH Up $0.27. Corn futures closed about three cents higher, supported by short-covering ahead of next week's WASDE report. The stock market closed with a new record for the eighth consecutive time with the Dow settling 66 points higher at 22,092 and the NASDAQ 11 points higher. The stock market was generally supported by more jobs added in July than anticipated (i.e., 209,000 versus trade expectations close to 180,000).