The cattle complex closed mostly higher with only spot August live finishing significantly in the red. Lean hog contracts settled on a mixed basis, though August through next April closed with a firm undertone.
Action in cattle feeding country was limited to the distribution of new showlists. Overall, the total fed offering looked close to unchanged with last week. Although assumed to be firm compared with last week, asking prices were poorly defined. According to the closing report, the national hog base is .57 lower ($81.00-87.50, weighted average $85.82).
The corn market finished a penny plus lower, perhaps stabilizing a bit following last week’s significant volatility. Wall Street closed mixed with the Dow off 8 points and the Nasdaq up 1.