DTN Closing Livestock Comment 08/02 15:42

DTN Closing Livestock Comment 08/02 15:42 Livestock Losses Continue Friday Triple-digit losses were seen throughout livestock markets again Friday as traders searched for answers. Deferred lean hog futures were hit hardest with December and February contracts closing limit lower. By Rick Kment DTN Analyst GENERAL COMMENTS: Losses continued across all livestock futures markets Friday with triple-digit losses seen in cattle and hog markets late in the day. Growing concerns about trade with China led to weakness in lean hog futures, while a rebound in corn futures added to the already bearish tone in feeder cattle trade through the end of the week. From Friday to Friday, livestock futures scored the following changes: Aug live cattle, off $1.00; Oct live cattle, off $2.08; Aug feeder cattle, off $4.10; Sep feeder cattle, off $5.88; Aug lean hogs, off $10.15; and Oct lean hogs, off $13.73. Limited cash cattle sales continued to develop Friday, while prices were generally steady with trade earlier in the week. Southern cash cattle trade was reported at $111 per cwt, steady with early week trade, but $1 per cwt lower than last week. Live trade in the North had developed in Nebraska and Colorado by midafternoon Friday at $114.50 per cwt. This is generally steady with last week's price levels. Bids of $182 to $183 per cwt dressed basis in the North were still on the table, but it was uncertain if additional trade would be seen before the end of the week. The National Daily Direct afternoon hog report was $0.76 lower ($68 to $84.50, weighted average $77.20) on 8,060 head sold. Corn futures were higher in light trade with September up 6 3/4 cents. Stock markets were lower in light trade with the Dow down 173 points and the NASDAQ down 123 points.