Live cattle and feeder cattle futures posted modest gains Thursday, continuing their short-term trend. Lean hog contracts gave back most of the previous session’s gains.
The majority of the week’s cash cattle trade looks like it will be left off until Friday, with sellers staying firm at their asking prices around $184 in the North and $113 in the South. Most bids haven’t yet met those prices, instead staying at $182. But, on Thursday, one transaction for 1,000 head was noted in eastern Nebraska at $185.
According to the closing report, the national hog base was $0.28 higher ($56-$71, weighted average $67.82).
Corn futures closed 13 1/2 cents higher. The stock market stayed near its new record high and closed the day higher, up 7 points on the S&P 500.