DTN Closing Livestock Comment 06/19 15:25
Midweek Livestock Gains Stabilize
Wide market shifts developed in nearby futures with firm losses of $1 per
cwt developing in live cattle futures while moderate to strong support moved
into lean hog futures.
By Rick Kment
GENERAL COMMENTS: Hog futures bounced higher in limited support as August
futures led the complex higher based on trade talk next week with China. Any
glimmer of hope of trade progress seems to get nearby contracts fired up.
Cattle futures shifted lower as traders backed away from early week gains,
although no additional direction developed within the current sideways trading
range. Corn futures continued lower Wednesday. July futures is 8 3/4 cents per
bushel lower. Dow Jones Index is 69 points higher with Nasdaq up 25 points.
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