Heading into Thursday, the livestock complex will be anxious to see if much demand is brought forth in Thursday’s export report.
GENERAL COMMENTS:
It was a technically supportive day for the cattle contracts, but the cash side of the market dipped lower as packers pushed cash prices down $1.00 from Tuesday’s trade. After an aggressive week, the lean hog complex is looking for follow-through support, which could come from Thursday’s export numbers.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $3.84 with a weighted average of $68.29 on 4,631 head.
March corn is up 7 cents per bushel and March soybean meal is up $8.50. The Dow Jones Industrial Average is down 129.64 points and NASDAQ is up 2.82 points.
