DTN Closing Livestock Comment 05/19 16:36
19 May 2020
DTN Closing Livestock Comment 05/19 16:36 Livestock Contracts Close Mostly Lower Tuesday Tuesday came and went in a quiet manner as the market wasn't worried about trade as much as it was about the CFAP announcement. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock industry seemed to be checked out of Tuesday's market and tuned into the announcement from President Trump and the USDA of the unveiling of the Coronavirus Food Assistance Program (CFAP). CFAP is to provide financial assistance to producers of agricultural commodities who have endured a 5% or greater price decline due to COVID-19 and who have also faced additional marketing costs as a correlation to the virus' effects on demand, surplus production and disruptions to the usual flow of business. Given the hardship that farmers and ranchers have endured in the last five months, nearly all eyes and ears were on Tuesday's announcement.