Welcome to Markets Desk, here's what's moving this Monday.
Lean hog futures closed in the red, with losses ranging from forty cents to just over a dollar fifteen on the session. The CME Lean Hog Index slipped fifteen cents to settle at ninety-two dollars and seventy-five cents, while the national base hog price came in at ninety-seven twenty-five by afternoon, up nearly two dollars from the prior day. The divergence between cash and futures continues to keep traders cautious heading into the week.
Shifting to defense, Lockheed Martin has locked in a five hundred fourteen million dollar contract with the U.S. Space Force to construct GPS IIIF Space Vehicles twenty-three and twenty-four. This is a continuation of the long-running GPS modernization program, and for Lockheed, it reinforces the company's position as the primary contractor for next-generation satellite navigation infrastructure at a time when space-based assets are increasingly central to military strategy.
And on the macro side, a striking piece out of the Financial Times raises a question worth sitting with: capital is flooding into insurance markets, drawn by high returns and historically low volatility, but seasoned professionals are growing uneasy about mispricing of risk. In a world where geopolitical and climate tail risks are arguably rising, cheap risk premiums may be storing up trouble.
That's the tape. Markets Desk, signing off the floor.
