DTN Closing Livestock Comment 06/01 16:36

DTN Closing Livestock Comment 06/01 16:36 Lean Hog Futures Close Mixed With Nearbys Gaining on Deferreds Lean hog contracts settled on a mixed basis with summer issues moderately higher and most deferred issues moderately lower. The cattle complex closed mixed in the live trade and moderately lower in the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle buying activity in the North turned fairly active on Friday with most live sales marked at $111 (some cattle in the West were marked at $111.50). Such live business was generally $1.25 higher than last week's weighted average basis Nebraska. Northern dressed sales ranged from $177 to $178 (mostly $177), steady/firm with last week. The National hog base closed up $0.35 compared with the Prior Day settlement ($61 to $70.50, weighted average $69.14). From Friday to Friday, livestock futures scored the following changes: Jun LC up $0.25; Aug LC up $1.32; Aug FC up $1.40; Sep FC up $2.15; Jun LH up $3.40; Jul LH up $1.25. Corn futures closed generally 2 cents lower, pressured by positive crop ratings and some relief anticipated in terms of Brazilian dryness. Supported by the positive jobs report, the stock market closed solidly higher with the Dow up 219 and the Nasdaq better by 112.