DTN Closing Livestock Comment 07/25 15:29

DTN Closing Livestock Comment 07/25 15:29 Triple-Digit Gains Hold in Hog Complex The ability to hold strong market gains in nearby lean hog futures helped solidify expectations that additional buying may move into the complex late in the week. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade remains generally light with limited scattered bids developing through Wednesday afternoon. Bids are $110 live basis and $175 dressed. Asking prices remain firm at $115 and higher live basis, and $183 dressed basis. The Fed Cattle Exchange Auction today listed a total of 1,249 head, with zero actually sold, 1,187 head listed as unsold, and 62 head listed as PO (Passed Offer). The state by state breakdown looks like this: Kansas 413 total head, with zero head sold, 351 head unsold, 62 head listed as PO ($111.00); Nebraska no cattle reported; Texas 114 total head, with zero head sold, 114 head unsold, and zero head listed as PO; Colorade no cattle reported; Iowa 651 total head, with zero head sold, 651 head unsold, and zero head listed as PO; other states (Oklahoma) 71 total head, with zero head sold, 71 head unsold, and zero head listed as PO. Asking prices ranged from $111 to $115.00. All cattle listed are for 1 to 9 day delivery. According to the closing report, the national hog base is $0.95 lower compared with the Prior Day settlement ($62.00-$67.50) weighted average $65.13. The corn futures are higher in light activity. July futures were 7 cents higher Wednesday. The Dow Jones Index is 3 points higher with the Nasdaq up 55 points.