DTN Closing Livestock Comment 06/30 15:49
   Cattle Futures Soften to End June

   Active pressure across feeder cattle futures on the last trading day of June
continues to add uncertainty to all cattle trade. Hog futures remained mixed in
limited volume and narrowly mixed price shifts Tuesday.

Rick Kment
DTN Analyst

GENERAL COMMENTS:

   Feeder cattle futures were the main focus through most of Tuesday's trading
session, with active triple-digit losses seen through the entire trading day.
Although feeder cattle contracts recovered slightly from session lows seen
during the morning trade, the swift shift from last week's highs continues to
add uncertainty not only to the feeder cattle complex but to the entire cattle
market. Live cattle futures followed the feeder cattle market lower, although
losses were much more subdued in most contract months. Although spot month June
contracts closed higher on the last day of June, most of this price support
developed from position squaring ahead of the end of the month and quarter in
the expiring contracts. Limited activity is also expected in the next couple of
trading sessions across all livestock markets, with trade closed Friday for the
Fourth of July Holiday, leaving general trade activity limited throughout the
week. Hog prices closed higher on the Daily Direct Afternoon hog report, up
$4.14 with a weighted average of $97.58 on 9,679 hogs. September corn closed up
6 1/2 at $4.168 and July soybean meal closed steady. The Dow Jones Industrial
Average is up 135.07 at 52,317.81.