Active liquidation slowed significantly through Thursday’s session and prices remained mixed in a moderate range. The overall lack of seller interest seemed to allow some buyers to move back into the complex, although the tone of the market remains weak.
Cash cattle markets remained generally sluggish through Thursday with light trade reported in the South at $117 per cwt on a live basis. Light dressed trade slowly developed in the North at $186, with live trade of $117. There may be additional clean-up activity Friday. Asking prices on cattle left on show lists are at $118 and higher live and $189 and higher dressed. Trade is generally $3 to $4 per cwt lower than last week, but steady with trade seen over the last two days.
According to the closing report, the national hog base is $0.35 lower compared with the prior day settlement ($53.00-$60.00) weighted average $58.47.
The corn futures moved lower in light activity. March futures were 1 cent lower Thursday. The Dow Jones Index is 41 points higher with the Nasdaq up 34 points.