Some stability may have been found in the lean hog sector, but cattle contracts aren’t able to rebound on the same note.
Tuesday came as a bit of a mix for the livestock contracts. Initially the day started out strong in every division, but as time went on the lean hog market grew strong, being supported from the cash market, and cattle contracts grew weaker. Hog prices are higher on the National Direct Afternoon Hog Report, up $0.82 with a weighted average of $54.71.
March corn is up 6 cents per bushel and March soybean meal is down $0.20.
The Dow Jones Industrial Average is up 186.64 points and NASDAQ is up 130.37 points.