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DTN Closing Livestock Comment 06/14 16:28
Late-Week Liquidation Continues in Livestock Markets
Livestock futures fell Friday as traders liquidated positions at the end of
the week.
By Rick Kment
DTN Analyst
GENERAL COMMENTS: The entire livestock complex was under pressure Friday as
traders liquidated positions at the end of the week. Hog futures fell by triple
digits on uncertainty about demand through the rest of the year. From Friday to
Friday, livestock futures scored the following changes: Jun LC up $1.85; Aug LC
up $0.98; Aug FC off $1.72; Sep FC off $1.55; Jun LH up $0.72 and Jul LH off
$2.00. Cash cattle trade remained scattered midafternoon Friday with just a few
cattle selling in the North at $184 dressed. Additional trade is expected in
the North with bids of $112 to $114 live and $182 to $185 dressed developing.
Asking prices remain at $114 and higher live and $187 and higher dressed.
Although trade in the South has been light this week, bids had not developed in
these areas Friday, leaving the impression that business is finished for the
week. The National Daily Direct afternoon hog report was $0.04 lower ($67-$78
per cwt, weighted average $75.79) on 12,085 head sold. Corn futures firmed in
active trade Friday with July up 11 cents per bushel. The Dow Jones Index was
17 points lower with the NASDAQ down 40 points.
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