Lean hog futures closed significantly higher Tuesday thanks to constructive fundamentals and bull-spreading interest. The cattle complex settled with mixed prices, mostly higher in the live trade and mostly lower in the feeder market.
Feedlot country remained very quiet Tuesday with just a few bids noted in parts of the North. Some Southern showlists were priced at $117 or better. According to the closing report, the national hog base is $0.78 higher ($72-$81, weighted average $78.68).
The corn trade spiked generally a dime higher, supported by lower ending stocks reported by the World Board and short-covering. The stock market closed on a mixed basis with the Dow off 1 point and the Nasdaq up 43.