The cattle complex closed significantly lower with feeder issues generally losing ground to their live counterparts. Lean hog futures also finished on the defensive thanks to long liquidation and uncertain fundamentals.
Northern bids were little more than token at $173 to $174 through the day. Some showlists were priced around $114 live in the South and $180 in the North. According to the closing report, the national hog base is $.71 lower compared with the Prior Day settlement ($59.00 to $64.00, weighted average $62.58).
Corn was pressured by outside markets and equities. The stock market imploded Wednesday thanks to fear of rising interest rates. The Dow crashed by 831 points and the Nasdaq tanked by 315.