Cattle prices were somewhat lower across the board Tuesday, with the front-month August live contact down $0.275, and steeper losses in feeders: down $0.75 in the October contract. Deferred lean hog contracts enjoyed another up day.
Through the quiet start of the week, sellers have kept their offers (around $114 in the South and $187 plus in the North) firm above last week’s prices: $113 live and $182 dressed. No significant trade volume has been noted yet, and not even a token bid was floated Tuesday.
According to the closing report, the national hog base was $0.75 higher ($57-$72, weighted average $69.36).
Corn futures closed 5 3/4 cents lower alongside steeper losses in the soy complex (soybean meal down $3.50 per ton). The stock market dropped 10 points in the S&P 500, but the index remains above 3,000.