DTN Closing Livestock Comment 05/06 15:48
6 May 2019
DTN Closing Livestock Comment 05/06 15:48 Trade War Talk Triggers Hog Market Meltdown Hog futures were locked limit down (-$3.00 per cwt) all day Monday and will trade with expanded limits Tuesday. The escalated trade war concerns weighed on cattle futures markets, too, but not to as great an extent. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: Cattle buyers, after reviewing showlists at the start of this week, may use the weakness in Monday's futures trade as justification for lower bids, especially with the overall trade-war-infected environment of commodity bearishness. According to the closing report, the national hog carcass base is $0.35 higher ($72.00-$81.50, weighted average $79.27).Corn futures settled 5 to 7 cents lower alongside predictably steeper China-related soybean losses. The stock market closed modestly lower, off 13.17 points in the SP 500 Index (2932.47).