DTN Closing Livestock Comment 08/27 15:36

DTN Closing Livestock Comment 08/27 15:36 Cattle Inventories Steady Cattle inventory levels remained unchanged from year-ago levels with total head falling fractionally through the year. This continues to leave uncertainty about long-term direction given demand concerns. By Rick Kment DTN Analyst GENERAL COMMENTS: All livestock markets were under pressure Tuesday with traders unwilling to step back into the complex following concerns that trade issues with China remain far from resolved. Hog futures were able to regain initial losses, while triple-digit losses continued in cattle futures. Limited direction is seen in cash cattle trade with both sides waiting until later in the week in order to hopefully move markets in their respective direction. Bids were undeveloped at this point in the week, although limited asking prices redeveloped around $108 in the South and $178 to $180 in the North. Although both sides would rather not wait until late Friday, it is likely that delayed trade will be seen given the lack of follow-through support in futures trade. The National Daily Direct afternoon hog report was $1.14 lower ($54 to $63.00, weighted average $61.57) on 14,733 head sold. Corn futures eroded following widespread market pressure with December down 2 cents. Stock markets were lower in moderate trade with the Dow down 74 points and the NASDAQ down 21 points.