Treasury Secretary Steven Mnuchin says he has spoken with a top Walmart executive about how it can keep prices low amid the U.S.-China spat.Marketsread more
When the Fed releases minutes of its last meeting this afternoon, it risks sounding a bit hawkish.Market Insiderread more
China is considering cutting natural gas purchases from the U.S. in its tit-for-tat on trade, according to the South China Morning Post.Marketsread more
Tesla's latest version of its Navigate on Autopilot feature could be a potential safety risk for drivers as it requires substantial human intervention, according to findings...Autosread more
Target's CEO thinks the retail industry is shaking out to show clear winners and losers. Those companies that are investing in stores and online are winners, he said.Retailread more
Such a move could provide a buffer against any economic weakness that the U.S.-China trade war could cause.The Fedread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
A federal judge grants an injunction ordering Qualcomm to renegotiate its licensing agreements.Technologyread more
Apple's China business accounted for more than 17% of its sales in its fiscal second quarter, coming in at $10.22 billion.Marketsread more
"I've had no conversations ever with the president or anyone in the White House about delivering the president's tax returns to Congress," Mnuchin said during a hearing before...Politicsread more
If you beat the odds and nab the top Mega Millions prize, the IRS would get more than $58 million before the windfall reaches you. You also could count on owing more at tax...Personal Financeread more
CHICAGO, April 9 (Reuters) - Most months of Chicago Mercantile Exchange lean hog futures closed down the daily 3-cent trading limit on Tuesday on softening cash markets and profit-taking following contract highs set last week, analysts said.
"The cash market has slowed down. It was down a little yesterday and the carcass values were weaker this morning," said Doug Houghton, analyst with Brock Associates Inc.
"The pork market has been very strong, but you've got the highest prices in a while; you may be getting some resistance," Houghton said.
The U.S. Department of Agriculture pegged average cash hog prices in the top Iowa and southern Minnesota market at $75.97 per cwt, down 38 cents from the prior day's weighted average.
Most-active CME June lean hog futures settled down the daily 3-cent limit to close at 95.150 cents per pound. The contract rode a month-long surge to peak at a contract high on Friday of 99.825 cents.
"The fact that (the June contract) closed below Friday's low is not favorable from a technical standpoint. Everything is looking pretty toppy," Houghton said.
The CME Group said daily limits in lean hog futures would be widened to 4.5 cents a pound for Wednesday's trading session.
Expectations of increased U.S. pork exports to China continued to underpin the market as China struggles to contain the spread of African swine fever in its hog herd.
CME live cattle futures ended mostly lower as traders awaited direction from cash markets and monitored a major storm that is forecast to bring blizzard conditions Wednesday and Thursday to much of South Dakota and Nebraska.
Feedlots in Nebraska have been struggling with muddy conditions for months.
"The (cattle futures) market was just treading water today," Houghton said.
April live cattle futures finished up 0.100 cent at 125.900 cents per pound while the actively traded June contract fell 0.225 cent at 120.350 cents.
April feeder cattle futures settled down 0.575 cent at 146.150 cents per pound while May feeders fell 0.400 cent at 150.175. (Reporting by Julie Ingwersen Editing by Chris Reese)