DTN Closing Livestock Comment 08/06 15:40

DTN Closing Livestock Comment 08/06 15:40 Livestock Losses Continue Tuesday The early week support in the livestock trade was short lived, as pressure returned to all livestock markets late Tuesday. Nearby hog futures led the complex lower with losses in October through April contracts as traders test year-long lows of $64 per cwt. By Rick Kment DTN Analyst GENERAL COMMENTS: Despite early week support in livestock markets, the bearish tone of livestock trade -- and most markets in general -- surrounding the trade tensions with China and recent proposed tariffs led to continued market liquidation Tuesday. October lean hog futures led the complex lower, falling $2.85 per cwt, with most nearby contracts holding triple digit losses. Weakness developed in live cattle trade on spillover pressure from the hog trade. Cash cattle interest remained silent Tuesday with packer bids and asking prices from feedlots still unreported. Given the lack of interest early in the week, active trade could easily be pushed into Friday. The National Daily Direct afternoon hog report was $0.94 lower ($65 to $80, weighted average $75.22) on 24,295 head sold. Corn futures were lower in light trade with September down 1 1/4 cents. Stock markets were higher in moderate trade with the Dow Jones up 278 points and the NASDAQ up 108 points.