The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
The U.S. Air Force's top general says he hasn't received direction to send additional bombers to the Middle East after what is believed to be Iranian attacks on Saudi Arabian...Defenseread more
Facebook has partnered with Ray-Ban maker Luxottica to develop augmented-reality glasses code-named 'Orion', people familiar with the matter told CNBC.Technologyread more
"I believe the path to 'health care for all' is a path following the lead of the Affordable Care Act," House Speaker Nancy Pelosi tells Jim Cramer.Health and Scienceread more
The pet food and product retailer posted net sales of $1.15 billion, topping estimates of $1.13 billion, according to a survey of analysts by Refinitiv.Retailread more
E-cigarette maker Juul Labs Inc.'s sales have been halted on two websites in China, just days after it launched in the world's biggest tobacco market.Biotech and Pharmaceuticalsread more
CHICAGO, Aug 27 (Reuters) - U.S. lean hog futures crumbled under the weight of large supplies and a lack of news about trade talks with China on Tuesday, while cattle futures also weakened.
The declines were a turnaround from Monday, when hog futures climbed on hopes for easing tensions in the trade war between Washington and Beijing.
China, the world's largest pork consumer, imposed retaliatory tariffs on imports of U.S. pork and other farm products last year as part of the dispute, slashing U.S. agricultural exports.
"For the hogs, we just have too big a supply," said Don Roose, president of Iowa-based broker U.S. Commodities. "The supplies are just overwhelming the demand."
Chicago Mercantile Exchange (CME) October lean hogs settled 0.575 cent lower at 63.225 cents per pound.
China has the potential to significantly increase pork imports if a trade deal is reached, according to analysts. Meat is needed to replace millions of pigs that have died in an outbreak of the fatal hog disease African swine fever in China over the past year.
China's Foreign Ministry reiterated on Tuesday that it had not heard of any recent telephone call on trade between the United States and China, after U.S. Treasury Secretary Steven Mnuchin said there had been contact between the two sides.
"It's a rocky path between the U.S. and China," Roose said. "We haven't seen anything from China that is solidifying something that seems really positive."
In the cattle markets, beef packing margins remained high following a fire that suspended operations at a Tyson Foods slaughterhouse in Kansas earlier this month.
Margins were $423.70 per head, up from $132.90 two weeks ago, according to livestock marketing advisory service HedgersEdge.com.
Packers slaughtered an estimated 117,000 cattle on Tuesday, up 1,000 from a week ago, according to the U.S. Department of Agriculture. They have killed 233,000 cattle so far this week, up from 231,000 last week and down from 240,000 a year ago.
Prices for choice boxed beef cutout edged up $0.03 to $238.09 per cwt, while select cutout fell $0.24 to $211.42, the USDA said.
CME October live cattle futures settled 1.225 cents weaker at 99.775 cents per pound. October feeder cattle dropped 1.875 cents to 132.500 cents per pound. (Reporting by Tom Polansek in Chicago Editing by Tom Brown)