DTN Closing Livestock Comment 08/05 15:51

DTN Closing Livestock Comment 08/05 15:51 Hog Prices Lead Livestock Markets Lower As active buying returned to grain and financial markets, livestock futures drew the "short straw" as triple-digit losses were plentiful in cattle and hog markets. By Rick Kment, DTN Contributing Analyst GENERAL COMMENTS: Any sense of market momentum earlier in the week seemed to be quickly offset as widespread pressure developed in the livestock markets Thursday. Lean hog futures took most of the heat, as October futures closed limit lower with $3 per cwt losses. With exception of soon to expire August lean hog futures, all contracts through August 2022 posted triple-digit losses. Triple-digit losses seen in all nearby live cattle and feeder cattle futures added further questions about the ability to spark a late week rally Friday, and uncertainty of cash market moves. Hog prices closed lower on the National Direct Afternoon Hog Report in light trade, down $2.75 with a weighted average of $99.91 on 4,631 head. December corn is up 6 cents per bushel and December soybean meal is up $3.30 per ton. The Dow Jones Industrial Average is up 199 points and NASDAQ is up 87 points.