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DTN Closing Livestock Comment 05/22 17:02
2018 Lean Hog Contracts Close Sharply Lower
Lean hog futures settled significantly lower with all 2018 issues suffering
triple-digit losses. Cattle futures closed modestly higher, though forward
progress was generally modest.
By John Harrington
DTN Livestock Analyst
The cash cattle trade was a complete nonevent with players not even
bothering to field nominal bids and asking prices. According to the closing
report, the national hog base is unchanged ($59-$65.16, weighted average
$64.78). The corn market closed several cents higher, supported by dry weather
in Brazil where the corn crop estimate seems to be shrinking every day. The
stock market closed lower on news that President Donald Trump was not satisfied
with the progress of China trade talks. The Dow closed 178 points higher with
the Nasdaq down by 15.
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