Live and feeder contracts were slammed with triple-digit losses Monday thanks to aggressive long liquidation and cash market worries. The lean hog trade settled mixed, with nearbys losing ground to deferreds.
Activity in feedlot country was typically limited to the distribution of new showlists. Ready numbers appear to be mixed, larger in the South (especially Kansas) and smaller in the North. Overall, the new offering seems somewhat bigger than last week. According to the closing report, the national hog base is .19 higher ($66.00-71.51, weighted average $69.91).
The corn market settled 3-4 cents lower, checked by warmer weather and decent planting progress over the weekend. The stock market closed higher with the Dow up 85 points and the Nasdaq better by 28.