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DTN Closing Livestock Comment 07/16 16:51
   Cattle Launch Week With Sharply Higher Prices

   Live and feeder contracts closed sharply higher Monday, supported by large
cash premiums and aggressive sort covering. Lean hog issues settled lower with
fourth quarter prices losing more ground to nearbys and far deferreds.

By John Harrington
DTN Livestock Analyst


   The cash cattle trade was typically quiet for a Monday as packers focused
exclusively on the collection of new showlists. The midmonth offering looks
mixed, smaller in Texas and larger in Kansas, Nebraska and Colorado. Overall,
ready numbers appear to be about steady with last week. According to the
closing report, the national hog base is $1.18 lower compared with the prior
day settlement ($66.00 to $74.00, weighted average $73.08). Corn futures
finished 1/2 cent to 2 cents higher with deferreds outperforming nearbys. The
stock market closed mixed with the Dow up 44 and the Nasdaq off by 20.
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