The cattle complex closed sharply higher, supported by late short-covering and the premium status of recent feedlot sales. For the most part, lean hog contracts settled moderately higher with only spot Feb slipping some lower.
Besides gathering new showlists, cattle buyers did have much to say in the early rounds. The new offering is generally smaller with only Kansas showing more ready steers and heifers. According to the closing report, the national hog base is $0.04 lower ($53.00-$58.00, weighted average $55.23).
The corn market closed several cents higher with the help of decent export inspections. The Dow closed 76 points lower with the Nasdaq notching another record high (up 10).