DTN Closing Livestock Comment 07/29 15:30

DTN Closing Livestock Comment 07/29 15:30 Livestock Futures Firm in End-of-Week Trade Late-day support led to moderate-to-strong gains in feeder cattle and lean hog futures Friday. This is expected to spark additional interest early next week. By Rick Kment DTN Analyst GENERAL COMMENTS: Sharp early losses in lean hog futures sparked increased pressure as the Monday session continued. With October lean hog futures falling $3 per cwt and hitting limit losses, pressure spilled over to the rest of livestock trade. Corn futures moved higher in light trade. September futures closed 2 1/2 cents per bushel higher. Dow Jones Index is 42 points higher with Nasdaq down 34 points. Cash cattle markets remained subdued Monday with showlist distribution and inventory taking the main focus throughout cattle country. Showlists appear to be higher in most areas, with Kansas offerings generally steady, while other regions posted higher numbers offered. This is not surprising given the overall light trade last week. Business may be delayed until the last half of the week once again. National Daily Direct afternoon hog report is 3.37 higher with a weighted average of $81.46 per cwt. Full range of $72 to $88 per cwt on 8,155 head sold.