DTN Closing Livestock Comment 05/22 15:58
Feeder Cattle Futures Close Week With Triple-Digit Gains
The cattle complex closed with mixed prices, higher in the feeder pit and
softer in nearby live contracts. Lean hog futures also settled on a mixed basis
with nearbys losing ground to deferreds.
By John Harrington
DTN Livestock Analyst
From Friday to Friday livestock futures scored the following Changes: Jun
LC, Off .40; Aug LC, Off .10; Aug FC, Up .60; Sep FC, Up .48; Jun LH, Up .37;
Jul LH, Off .20. The cash cattle trade was generally quiet to end the week with
packers and feedlot managers apparently satisfied with trade volume generated
on Wednesday-Thursday. A few dressed deals in the North were marked at $253,
steady with Thursday's best but $1 to $2 lower than last week's weighted
average basis Nebraska. According to the closing report, the Iowa hog base
closed $0.68 lower compared with the Prior Day settlement ($69.00-$80.00,
weighted average $78.72). Corn futures closed lower, down 5 in the July and
down 4 1/2 in the December.
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