July through October lean hog futures closed $3 per cwt lower Friday. Losses were seen throughout the rest of livestock trade, as well, leading to concern of additional pressure early next week.
Lean hog futures closed down the $3-per-cwt limit Friday, which will trigger expanded limits Monday. Cattle futures also fell late Friday, breaking through short-term support. From Friday to Friday, livestock futures scored the following changes: Jun LC off $2.23; Aug LC off $2.05; Aug FC off $1.85; Sep FC off $1.75; Jul LH off $5.10; Aug LH off $2.72.
Cash cattle trade appears to be done for the week following light-to-moderate trade Thursday. A few scattered bids were seen at $109 to $110 per cwt live basis and $178 dressed, but the lack of interest at the lower prices is likely to keep most cattle on showlists until next week.
The National Daily Direct afternoon hog report was $0.69 lower ($65-$76, weighted average $74.03) on 8,216 head sold.
Corn futures eroded Friday afternoon with July down 7 3/4 cents per bushel. The Dow Jones Index was 34 points lower with the NASDAQ down 19 points.