Limited buying in cattle trade Thursday allowed for underlying weakness through the complex. Feeder cattle led the complex lower. Hog futures posted moderate gains in most contracts as traders offset initial losses.
Active pressure developed in feeder cattle trade for the second straight session as traders steadily back away from recent highs. This underlying weakness sparked uncertainty in live cattle trade late Thursday.
Mixed hog trade developed late Thursday, although the bounce off session lows focuses on underlying support in the complex.
Corn futures posted active losses. September futures is 11 cents per bushel lower. Dow Jones Index is 2 points higher with Nasdaq up 22 points.