DTN Closing Livestock Comment 06/24 15:46
Limit Hog Closes Spark Technical Pressure
Hog futures ended the sharply lower with July through October futures
closing $3 per cwt lower. Widespread end of the week losses developed in all
livestock trade, creating concern of additional pressure early next week.
By Rick Kment
GENERAL COMMENTS: Sharp losses flooded feeder cattle and lean hog trade
Monday as follow through liquidation developed in both markets. The stability
in live cattle trade could help bring increased support to the complex through
the end of the month. Corn futures rallied Monday. July futures is 4 3/4 cents
per bushel lower. Dow Jones Index is 34 points lower with NASDAQ down 19 points.
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