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DTN Closing Livestock Comment 06/22 16:34
   Lean Hog Futures Close Mixed Thanks to Late-Week Profit-Taking

   Lean hog contracts closed lower in nearbys and modestly higher in far
deferreds. Profit-taking by bull-spreaders in light volume seemed to be the
major feature. The cattle complex closed mostly higher with only nearby June
and August live settling in the red.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The cash cattle trade was lower in most areas, pressured by seasonally
larger ready numbers and lackluster beef demand. Live business in the South
ranged from $109 to $110, generally $2 to $3 lower than last week. Most dressed
deals in the North were marked at mostly $172, generally $5 lower than last
week's weighted average basis Nebraska. The National hog base closed off $1.61
compared with the Prior Day settlement ($73 to $81.49, weighted average
$79.97). From Friday to Friday, livestock futures scored the following changes:
Jun LC off $0.18; Aug LC up $1.13; Aug FC up $1.23; Sep FC up $1.55; Jul LH off
$1.90; Aug LH off $2.88. Corn futures closed fractionally mixed in lackluster
trade volume. The stock market closed mixed with the Dow up 119 and the Nasdaq
off 20.
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