Heading into Thursday’s trade, all are anxiously awaiting the day’s export report and expect packers to up their bids.
The cattle contracts changed their tune come Wednesday and opted to trade the markets higher. Meanwhile, the lean hog market wasn’t as favorable, but the cash hog market continues to demand attention.
Hog prices closed higher on the National Direct Afternoon, up $1.35 with a weighted average of $57.95 on 9,237 head.
March corn is up 4 cents per bushel and January soybean meal is up $7.30. The Dow Jones Industrial Average is down 461.68 points and NASDAQ is down 283.64 points.