DTN Closing Livestock Comment 07/31 15:58
Livestock Futures Settle Week Mostly Lower
With the exception of spot August live, cattle futures were settled under
pressure thanks to long liquidation and ongoing concerns about beef demand.
Lean hog futures closed sharply lower, especially in the nearby contracts.
By John Harrington
DTN Livestock Analyst
From Friday to Friday livestock futures scored the following Changes: Aug
LC, Up 2.68; Oct LC, Up 1.80; Aug FC, Up 1.05; Sep FC, Up .20; Aug LH, Up .83
Oct LH, Off .30. Moderate cash cattle trade developed Friday with short-bought
packers forced to chase higher asking prices. Live sales in the South were
mostly $147, $2 higher than a week ago. On the other hand, dressed business in
the North ranged from $232 to $235, mostly $234, $2 stronger than last week. On
a live basis Nebraska and Iowa sold steers and heifers at $146 to $148, $1 to
$2 higher. According to the closing report, there is no comparison to yesterday
for the national hog base ($65.00-$76.75, weighted average $75.56). Corn
futures closed down 2 1/4 cents in the September and down 2 1/2 cents in the
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