DTN Closing Livestock Comment 07/27 16:55

DTN Closing Livestock Comment 07/27 16:55 Lean Hog Futures Close Defensive Week With New Lows Lean hog futures closed mostly lower with triple-digit losses dominating the first three contracts. On the other hand, the cattle complex settled on a mixed basis with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS It appeared that no one wanted to trade cattle this week. Trade volume for the week was extremely light, but we were still waiting for the possibility of light-to-moderate trade to develop late Friday afternoon if one or both sides finally agreed to compromise. Nevertheless, at this late hour, bids and asking prices remained separated by as much as $5 on a live basis. The National hog base closed off $1.22 compared with the Prior Day settlement ($59-$65, weighted average $62.50). From Friday to Friday, livestock futures scored the following changes: Aug LC off $0.30; Oct LC up $0.22; Aug FC off $1.37; Sep FC off $2.38; Aug LH off $2.80; Oct LH off $0.40. Corn futures closed fractionally higher, capping a generally positive week. Next week's weather map doesn't seem especially threatening, but of course forecasts are subject to change. The stock market closed lower with the Dow off 20.76 and the Nasdaq down by 114.