Lean hog futures closed with uneven price results to nearbys for the most part gaining significant ground on deferreds. Cattle futures closed in the red with selling interest especially focused on nearby feeder issues.
GENERAL COMMENTS
The cash cattle trade remained generally quiet through the day with just a few odds and ends reported by Mandatory. For the most part, bids and asking prices stayed hidden. According to the closing report, the national hog base is $0.50 higher ($51-$60, weighted average $58.86).
The corn trade scored solid gains, advancing 4-5 cents with the help of an extended hot and dry forecast for Brazil. Equities closed on a mixed basis with the Dow off 64 points and the Nasdaq up 64.
