DTN Closing Livestock Comment 04/02 17:29
2 Apr 2018
DTN Closing Livestock Comment 04/02 17:29 Lean Hog Futures Clobbered With Double Whammy Pressured by both news of domestic herd expansion and new China tariffs on U.S. pork, lean hog contracts closed sharply lower. The cattle complex also ended under selling pressure with nearbys losing ground to deferreds By John Harrington DTN Livestock Analyst GENERAL COMMENTS It was a typically slow Monday in feedlot country with showlist distribution the only marketing chore on the schedule. Ready numbers appear to be generally smaller than last week. According to the closing report, the national hog base is $1.02 lower ($45-$48.50, weighted average $47.34). Old-crop corn contracts settled fractionally lower thanks to late-session profit-taking. As the trade war between China and the U.S. heats up, the stock market closed substantially lower. The Dow closed 458 points lower with the Nasdaq off by 193.