Photo: Blair Fannin, Texas A&M AgriLife Extension Service
Monday treated the livestock complex quite well, live cattle closed higher, feeder cattle closed mixed and lean hogs closed mostly lower expect for the December contract.
GENERAL COMMENTS:
Monday left livestock contracts mostly unharmed by its arrival. It would be fair to say that not many expected live cattle to keep all of Friday’s position and then add to it. And even though we all hope and pray that hog producers get a break, it’s not surprising that the hog market closed lower.
Hog prices are lower on the National Direct Afternoon Hog Report, down $1.67 with a weighted average of $46.81.
December corn closed six cents per bushel lower. The Down Jones Industrial Average is up 114.75 points and the NASDAQ is up 46.80 points.
