DTN Closing Livestock Comment 05/08 15:41

DTN Closing Livestock Comment 05/08 15:41 Sharp Losses Continue on Demand Concerns Growing uncertainty ahead of the next round of trade talks with China has put increased pressure on all livestock trade. The focus through the complex is on long-term demand for pork and beef, as the most aggressive hog market losses developed in deferred-month contracts. By Rick Kment DTN Analyst GENERAL COMMENTS: Active selling quickly moved back into all livestock trade Wednesday. Cattle and hog futures posted triple-digit losses as traders focused on the uncertainty surrounding a trade deal with China. Although the next round of talks is set for Thursday in Washington, D.C., there is concern about changes to previously discussed terms. Additional cash cattle trade was reported Thursday with dressed deals in the North at $190 to $194 per cwt. This is $1 to $5 per cwt lower than Wednesday's prices and $4 to $8 per cwt lower than last week. It is likely that dressed Northern trade is done for the week, as is trade in the South. There still may be some deals done on a live basis through the North, but the weaker tone has already been well established. Asking prices on cattle left on showlists are $122 live and $198 to $200 dressed. The National Daily Direct afternoon hog report was $0.23 lower ($72-$82, weighted average $79.04) on 6,070 head sold. Corn futures fell in light trade with July down 2 1/4 cents per bushel. The Dow Jones Index was 2 points higher with the Nasdaq down 20 points.