DTN Closing Livestock Comment 05/22 17:02
22 May 2018
DTN Closing Livestock Comment 05/22 17:02 2018 Lean Hog Contracts Close Sharply Lower Lean hog futures settled significantly lower with all 2018 issues suffering triple-digit losses. Cattle futures closed modestly higher, though forward progress was generally modest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was a complete nonevent with players not even bothering to field nominal bids and asking prices. According to the closing report, the national hog base is unchanged ($59-$65.16, weighted average $64.78). The corn market closed several cents higher, supported by dry weather in Brazil where the corn crop estimate seems to be shrinking every day. The stock market closed lower on news that President Donald Trump was not satisfied with the progress of China trade talks. The Dow closed 178 points higher with the Nasdaq down by 15.