The livestock sector faired favorably again in Wednesday’s close. A strong close is always good news, but everyone’s attention lies on Thursday and Friday.
Wednesday closed strong in all livestock contracts. A lot of pressure lies on Thursday and Friday as Chinese officials plan to begin their meetings Thursday, and if the board can’t keep its recent gains, it could have a negative rippling effect on both the board and cash markets.
Hog prices are up $1.65 on the National Direct Wednesday Afternoon Hog Report, with a weighted average of $53.90.
December corn is down 1 1/2 cents per bushel and December soybean meal is up $2.80. The Dow Jones Industrial Average is up 181.97 points and NASDAQ is up 79.96 points.