Limited activity developed in all livestock trade Wednesday with very little market direction seen. Cattle markets were contained to narrow market moves as traders tried to establish short- and long-term direction.
Cash cattle interest remains extremely sluggish through midweek with a few token live bids developing in the South at $108 per hundredweight (cwt). This is well below asking prices of $113 to $114 live and $180 and higher dressed. Significant business may be delayed until after the Cattle on Feed report Friday.
According to the closing report, the national hog base is $3.15 higher compared with the Prior Day settlement ($45-$59, weighted average $56.21).
Corn futures are higher in light activity. September futures were 2 1/2 cents higher Wednesday. The Dow Jones Index is 172 points higher with the Nasdaq down 8 points.