The cattle contracts didn’t see much support in Thursday’s market, but the lean hog complex rounded out the day with a fully higher close in the futures market and a strong cash market as well.
GENERAL COMMENTS:
It was a sorry day for the cattle contracts, but the lean hog market was able to champion a higher close. The cash cattle market didn’t see the prices that it had hoped for as southern live cattle sold $2.00 softer than a week ago and, while Northern dressed cattle sold steady, most of them sold with time!
Hog prices closed higher on the National Direct Afternoon Hog Report, up $2.70 with a weighed average of $60.46 on 7,142 head.
March corn is up 4 1/2 cents per bushel and January soybean meal is up $2.50. The Dow Jones Industrial Average is down 0.06 points and NASDAQ is down 269.62 points.
