DTN Livestock Close: Hog Futures See Boost in Buying Interest

Nearby lean hog contracts extended their rally late in Wednesday’s session with gains of $2.95 in the August contract. Live cattle and feeder cattle, meanwhile, pulled back with modest losses.

GENERAL COMMENTS:

Alongside the plateau in live cattle futures, the cash cattle trade that’s developed so far this week is a somewhat mixed bag. Light trade was reported late Wednesday morning in the South at $111, steady to $1 lower than last week. However, other asking prices remain firm around $114 live and $186 plus in the North, where eastern Nebraska business was clocked at $185 late Tuesday and there were other deals by a regional in parts of Nebraska at $183 for delivery two weeks out and $185 for delivery the week of Aug. 5.

According to the closing report, the national hog base was $1.10 higher ($57.00 to $74.00, weighted average $70.43).

Corn futures closed 3/4 cents higher. The stock market pulled back 19 points in the S&P 500.

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