Heading into next week, the market expects to see less interest on both the board and in the cash markets as it’s a shortened holiday week.
GENERAL COMMENTS:
It was a phenomenal week for the live cattle market as feedlots were able to again push cash cattle prices higher and the board rallied upon seeing this fundamental strength. Heading into next week, the lean hog market is anxious as a shortened holiday week means slower processing speeds. However, it also means the market is one week closer to the new year where lean hog’s optimism lies.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.15 with a weighted average of $54.95 on 5,912 head.
December corn was down 2 1/4 cents per bushel and December soybean meal was up $1.40. The Dow Jones Industrial Average was down 289.52 points and NASDAQ was up 54.30 points.
