Livestock trade saw wide swings Wednesday as strong gains in the cattle market and weaker hog trade offset early week market shifts. Volatility is likely to continue.
The livestock trade saw wide swings early Wednesday. Renewed buyer support moved into the cattle trade, while market uncertainty continued to pressure hog trade. Triple-digit gains in feeder cattle futures were offset by similar losses in nearby lean hog futures.
Cash cattle activity remains sluggish with just a few starter bids developing Wednesday at $122 per cwt in Kansas on a live basis, while limited dressed bids of $196 are seen in Nebraska. Asking prices are becoming more available at $126 and higher live and $200 dressed. Active trade is expected to be seen later in the week, potentially as late as Friday afternoon.
According to the closing report, the national hog base is $0.40 higher ($48-$53.50, weighted average $52.49).
Corn futures are mixed in light activity. March futures were 1/4 cent lower. Dow Jones Index is 171 points higher with Nasdaq up 5 points.