Lean hog issues settled moderately higher, supported by cash premiums and midweek short-covering. While finishing in the green, advances in the cattle complex were somewhat tamer than those scored by lean hog futures.
There were a few more bids tossed out for consideration Wednesday (i.e., $108 live, $173 dressed), but nothing tempting enough to spark selling interest. Asking prices were around $112-$114 in the South and $178 dressed in the North).
According to the closing report, the national hog base is $0.55 lower compared with the Prior Day settlement ($40-$43.50, weighted average $43.87).
Corn futures closed fractionally mixed, concluding a session of slow, lackluster business. The stock market closed lower with the Dow off 137 points and the Nasdaq down by 96.