Welcome to Markets Desk, here's what's moving right now.
President Trump confirmed he recently spoke with Federal Reserve Chairman Kevin Warsh, while pushing back on reports of regular contact. The admission comes at a sensitive moment for central bank independence, with markets watching closely for any sign of political pressure on monetary policy decisions.
Shifting to the livestock pits, live cattle futures pushed higher Monday, with most contracts gaining between eighty-two cents and one dollar eighty. Cash trade firmed last week at two hundred thirty-five dollars live and three hundred seventy dressed in northern markets, signaling underlying demand support heading into the back half of summer.
Lean hogs also found buyers on the session, with futures climbing as much as one dollar fifty-five, even as USDA's national base hog price slipped nearly a dollar to ninety-six dollars sixty-eight cents on the afternoon read. The divergence between futures strength and cash softness is worth watching as the CME index continues to drift lower.
That's the tape. Markets Desk, signing off the floor.
