DTN Closing Livestock Comment 06/04 17:10
4 Jun 2018
DTN Closing Livestock Comment 06/04 17:10 Livestock Contracts Close Lower in All Corners At the conclusion of a very choppy session, cattle futures closed generally lower with most nearby issues losing ground to deferreds. Lean hog contracts also settled in the red, pressured by the discounted cash market and uncertain questions swirling around global trade. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle market began the week in slow motion as packers moved to gather new showlists. The early June offering appears to be larger than last week. According to the closing report, the national hog base is $.54 higher ($63.00 to $71.50), weighted average $70.07). The corn market stumbled into the week with losses of a dime or more. While it remains dry in Brazil, impressive crop ratings in the U.S. have pushed bears into the driver's seat. The stock market closed higher with the Dow up 178 points and the Nasdaq better by 52.