As cattle bulls ran out of gas late in the trading session, live and feeder futures could manage no better than mixed settlements. Lean hog issues slumped significantly lower, pressured by the deep discount of the cash index and long liquidation.
Cash cattle players limited their efforts Monday to the distribution of new showlists. The fed offering looks generally larger than last week with only Texas showing fewer steers and heifers. According to the closing report, the national hog base is $0.69 higher ($44-$53, weighted average $50.82).
Corn continued to ignore the cold spring and threats of planting delays by closing nearly 4 cents lower. The stock market closed higher with the Dow positive by 212 points and the Nasdaq up 49.