DTN Closing Livestock Comment 06/11 16:42
11 Jun 2018
DTN Closing Livestock Comment 06/11 16:42 Meat Futures Close Mostly Lower, Checked by Profit-Taking, Long Liquidation After sustaining moderate gains through midsession, cattle futures reversed to close significantly lower. Lean hog issues settled mixed with July through October losing to both spot June and the far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Activity in the cash cattle arena was naturally limited to the distribution of new showlists. Ready numbers appear to be generally larger than last week, especially in Kansas. According to the closing report, the national hog base is $1.39 higher ($70-$79.50, weighted average $78.02). Corn futures crashed lower with most contracts slumping as much as 9-10 cents. The stock market closed somewhat higher with the Dow up 5 points and the Nasdaq better by 14.