Live and feeder futures settled narrowly mixed at the conclusion of a session filled with large price swings. Lean hog issues also finished modestly mixed with summer 2018 issues gaining on both front and back.
Early week activity in cattle feeding country was limited to the distribution of new showlists. The new offering appears to be generally smaller than last week, especially in Texas and Colorado. According to the closing report, the national hog base is $0.48 lower ($54.00-$60.00, weighted average $58.94).
The corn market closed 1-2 cents lower thanks to a lack of buying interest in the wake of last week’s bearish yield estimate. The stock market closed higher with the Dow up 17 points and the Nasdaq better by 6.