The cattle complex closed solidly higher after successfully shaking off spillover selling from outside markets. Lean hog futures settled sharply lower, spooked by the intensification of trade war rhetoric.
Cash cattle potential remained poorly defined Tuesday with virtually no bids and just a few showlists priced at $115 live and $183 dressed. According to the closing report, the national hog base is $0.34 higher ($77-$83.50, weighted average $83.16).
Although corn futures closed several cents lower, contracts managed a major reversal from extreme selling action seen throughout most of the grain complex. The stock market crashed in light of new tariffs announced against China. The Dow closed 287 points lower with the Nasdaq down by 21.