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DTN Closing Livestock Comment 05/19 16:14
   July Lean Hogs Close Week With New Contract High

   Nearby lean hog futures closed moderately higher, supported by
bull-spreading and ideas of improving fundamentals through the early summer.
The cattle complex settled solidly higher thanks to late-week short-covering
and technical-buying.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The cash cattle trade was not tested Friday with buyers and sellers content
with trade volume generated on Wednesday and Thursday. The national hog base
closed up $0.23 compared with the Prior Day settlement ($66.00-$72.00, weighted
average $70.86). From Friday to Friday, livestock futures scored the following
changes: Jun LC Off $1.72; Aug LC Off $0.72; May FC Off $1.20; Aug FC Off
$1.37; Jun LH Up $1.55; Jul LH Up $1.57. Corn futures closed generally 6 cents
higher, supported by commercial buying and fears of late planting delays due to
rainy forecasts. The stock market closed higher with the Dow off 141 and the
Nasdaq better by 28.
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