Limited activity was seen through the entire complex. This may add some additional uncertainty to the through the end of the week. Trade focus is expected to remain on the ability to spark additional buyer activity in lean hog markets through the end of the week.
Cash cattle interest is undeveloped late Tuesday with bids and asking prices generally not established at this point. The overall lack of direction in futures trade Tuesday has allowed both sides of the market to sit on the sideline and wait for more information midweek. It is likely that active trade may develop Thursday or Friday.
According to the closing report, the national hog base is $0.64 lower compared with the Prior Day settlement ($37-$40, weighted average $39.54).
Corn futures are lower in light activity, with September futures 2 cents lower Tuesday. The Dow Jones Index is 98 points higher with the Nasdaq up 43 points.