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DTN Closing Livestock Comment 05/26 16:26
   Cattle Futures Break Hard Given Bearish On-Feed News

   The cattle complex closed sharply lower right before the holiday recess,
pressured by long-liquidation and the negative implications of the May 1
on-feed report. On the other hand, summer lean hog contracts closed the week
with solid gains, supported by bull-spreading and ideas of strengthening
seasonal fundaments.

By John Harrington
DTN Livestock Analyst


   The cash cattle trade was limited to scattered sales in parts of the North
at $132.50 live and $208.00-$210.00 dressed. The national hog base closed off
$0.75 compared with the Prior Day settlement ($67.00-$73.00, weighted average
$71.01). From Friday to Friday, livestock futures scored the following changes:
Jun LC Off $0.75; Aug LC Off $2.10; Aug FC Off $3.50; Sep FC Off $3.47; Jun LH
Up $2.32; Jul LH Up $1.73. Corn futures closed a nickel higher, supported in
part by reports of wide spread replanting activity. The stock market closed
narrowly mixed with the Dow off 2 and the NASDAQ up 4.
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