Heading into Friday’s trade, the livestock complex hopes to round out the week strong and find more clarity on whether or not processing speeds are going to get back to normal.
GENERAL COMMENTS:
Technically speaking, Thursday’s trade treated the livestock complex well as futures closed mostly higher. But from a fundamental sense, the slower slaughter speeds are troubling.
Hog prices closed higher on the National Direct Morning Hog Report, up $0.78 with a weighted average of $68.60 on 11,662 head.
March corn is up 1 1/2 cents per bushel and March soybean meal is down $2.40. The Dow Jones Industrial Average is down 170.64 points and NASDAQ is down 19.31 points.
