Cattle feed lot. Photo: K-State Research and Extension - Creative Commons
Heading into Thursday’s market, the cattle complex is hopeful that beef interest remains strong.
GENERAL COMMENTS:
It was another strong day for the lean hog complex as its contracts continued to rally and the market saw a huge number of cash hogs trade. Meanwhile, the cattle contracts closed slightly higher but seeing cash cattle trade for steady money wasn’t exactly what feedlots had hoped for.
Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.54 with a weighted average of $107.14 on 11,462 head.
May corn is up 4 3/4 cents per bushel and May soybean meal is up $8.30. The Dow Jones Industrial Average is down 448.96 points and NASDAQ is down 186.22 points.
