DTN Closing Livestock Comment 08/05 15:30

DTN Closing Livestock Comment 08/05 15:30 Wide Price Swings Develop Monday Losses initially flooded the livestock complex Monday as uncertainty surrounding China and U.S trade issues grew over the weekend. Late-day buying developed, sparking aggressive nearby gains and reducing earlier pressure. By Rick Kment DTN Analyst GENERAL COMMENTS: Wide trading ranges developed Monday as hog futures swung from limit losses of $4.50 per cwt to aggressive triple-digit gains and back throughout the session. Similar market swings occurred in cattle futures as initial pressure eroded as buyers tried to cover short positions. Corn futures are higher in light trade. September corn futures are 5 3/4 cents higher. Stock markets are lower in active trade. Dow Jones is 767 points lower with NASDAQ down 278 points. In cash cattle trade bids and asking prices are still hard to pin down. Packer interest will not improve significantly until midweek or later. Showlists appear to be generally larger with Kansas offerings steady while other regions are posting increased cattle available to packers. National Daily Direct afternoon hog report is $0.90 lower with a weighted average of $76.01 per cwt. Full range of $67 to $82 per cwt on 7,463 head sold.