By DTN/The Progressive Farmer
Fri 10 May 2013 16:35:00 CT
DTN Closing Livestock Comments 05/10 16:02
Cattle Futures Close Week With Moderate Gains
Live and feeder cattle futures closed higher with the latter gaining ground
on the former. On the other hand, lean hog contracts closed mostly lower,
pressured by late-week profit-taking and export worries.
By John Harrington
DTN Livestock Analyst
From Friday to Friday, livestock futures scored the following changes: June
LC, off 1.37; Aug LC, off 1.20; May FC, off 3.40; Aug FC, off .88; June LH, off
1.65; July LH, off 1.40. The cash cattle trade was limited to light trading in
parts of the North. Dressed deals were mostly marked at $202 to $203, $4 to $5
lower than last week's weighted average. In general, trade volume totals for
the week were relatively small, suggesting packers will start out next week
relatively short-bought. According to the closing report, the Iowa hog base
closed $2.28 lower compared with the Prior Day settlement ($78.00-$91.75,
weighted average $87.73). Corn futures closed lower, down 6 3/4 to 12.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.