The cattle complex closed significantly higher, confirming Wednesday’s technical achievements. Lean hog issues settled mixed, though most nearby contracts moved moderately higher.
The cash cattle arena remained dead quiet through the day with bids and asking prices separated by as much as $5 on a live basis (e.g., $118 versus $123 in Kansas and Texas). According to the closing report, the national hog base is $0.31 lower ($62-$70.50, weighted average $69.39).
The corn market closed a penny plus lower in light and featureless trade volume. Sobered by the threat of a government shutdown, the stock market closed lower with the Dow off 92 points and the Nasdaq down by 2.