Active buying supported feeder cattle futures with triple-digit gains in all contracts. This countered losses from last week as traders focused on stable supplies and expected firm demand.
Limited activity across lean hog futures late Monday had prices hovering in a mixed but tight trading range. Early week losses in August futures were offset by light to moderate support across the rest of the complex. Feeder cattle futures led the complex higher with triple-digit gains.
Cash cattle trade was undeveloped Monday. Showlists appear mixed, priced higher in Texas and steady to lower in other areas. It may be midweek or later before active bidding or any trade develops.
National Daily Direct afternoon hog report is $3.78 higher with a weighted average of $76.02 per cwt. Full range of $62 to $80 per cwt on 12,304 head sold.
Corn futures moved sharply lower Monday. September futures are 8 1/2 cents per bushel lower. The Dow Jones Index is 2 points higher with the NASDAQ up 51 points.