DTN Closing Livestock Comment 08/30 16:10

DTN Closing Livestock Comment 08/30 16:10 Monday Trade Leads to Early Week Losses Sharp losses in lightly traded August live cattle futures led to increased pressure in all cattle trade. Hog futures also shifted lower, adjusting following aggressive gains late last week. Feeder cattle futures were the bright spot of the complex holding moderate gains after sharp losses developed in grain trade. By Rick Kment, DTN Contributing Analyst GENERAL COMMENTS: Feeder cattle futures were the only livestock markets to show any sign of support Monday, as traders saw the strong market pullback in grain trade as a signal of lower feed and production costs. This weakness in grain markets will also have implications in hog and live cattle production costs, but the short-term moves seem to be focused on concern of overall pressure building in commodities in general. It is also likely that trade will remain sluggish through most of the week ahead of the long holiday weekend. Hog prices moved lower on the National Direct Afternoon Hog Report in moderate trade, fell $1.82 with a weighted average of $90.72 on 5,380 head. December corn is down 11 cents per bushel and December soybean meal is down $5.20 per ton. The Dow Jones Industrial Average is down 2 points and NASDAQ is up 154 points.