The cattle complex closed mostly lower in the live market and mixed in the feeder trade. On the other hand, lean hog issues settled mostly higher with only spot December settling in the red.
The cash cattle market was generally quiet Friday with just a few cleanup deals noted. A few dressed deals were reported at $190, $2 lower, while live trade was at $122, also $2 lower than Wednesday’s major market test. The National hog base closed off $0.17 compared with the Prior Day settlement ($54-$60.75, weighted average $59.70).
From Friday to Friday, livestock futures scored the following changes: Dec LC off $6.73; Feb LC off $5.00; Nov FC off $2.40; Jan FC off $4.35; Dec LH off $2.63; Feb LH off $1.72.
Corn futures closed several cents higher, supported by late-week short-covering following Thursday’s confirmation of record yield per acre. The stock market closed mixed with the Dow off 39 and the Nasdaq essentially unchanged.