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DTN Closing Livestock Comment 06/27 16:17
   Live Cattle Futures Land Triple-Digit Recovery

   The cattle complex opened the week with a decent short-covering rally with
live issues generally outperforming their live counterparts. Lean hog futures
settled on a mixed basis with nearbys losing ground to their deferred
counterparts.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Activity in cattle country Monday was typically limited to the distribution
of new showlists. Generally speaking, the new offering appears to be smaller
than last week, especially in the South. According to the closing report, the
national hog base is $0.35 lower compared with the Prior Day settlement
($74.00-$81.75, weighted average $80.65). Despite surging bean prices, corn
futures settled no better than fractionally mixed in lackluster trade volume.
Market and economic uncertainty linked to Brexit continued to hammer away at
the stock market. The Dow closed an additional 260 points lower with the Nasdaq
off 113.
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