For the most part, hog futures closed sharply lower with August through next May especially victimized by aggressive selling interest. The cattle complex finished mixed in the live market and mostly higher in the feeder trade.
Besides a few scattered sales in Kansas at $128 (i.e., another $2 lower), the cash cattle trade pretty much went untested with both buyers and sellers reluctant to put their foot on base. According to the closing report, the national hog base is $1.60 higher ($78-$86, weighted average $83.87).
The corn market closed roughly 2 cents higher, recovering from early selling and a bit more rain in the forecast. The stock market closed lower with the Dow off 14 points and the Nasdaq down by 29. `