All livestock contracts closed lower on Thursday.
Thursday’s market acted like a crazy old uncle does sometimes. The uncle has been pulling his weight lately and making the grand scheme of life seem a little brighter. But, low and behold we knew that he would go off on a drunk bender simply because the man can’t function when things go well.
Never the less, prices have been relatively good in the livestock complex and a correction was bound to happen. Regardless of if we wanted to admit that we knew the correction was coming or not, lower prices sting regardless if they come in the middle of the night or with a clear explanation.
Hog prices are lower on the National Direct Afternoon Hog Report Thursday, down $0.81 with a weighted average of $57.87.
December corn is up 3 cents per bushel and December soybean meal is up $2.00. The Dow Jones Industrial Average is up 23.90 points and NASDAQ is up 32.67 points.