Livestock Contracts Trade Mixed Into the Three-Day Weekend
It was a strange week for livestock contracts as the board was unwilling to really do much of anything.
A three-day weekend might be exactly what livestock contracts need. Seeming to be weighed down by the mess of COVID-19, livestock contracts aren’t able to do much of anything until the backlog of cattle and hogs is thoroughly processed and the market is current again. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.68 with a weighted average of $38.68 on 4,694 head. July corn is up 1/4 cent per bushel and July soybean meal is up $1.60. The Dow Jones Industrial Average is down 8.96 points and NASDAQ is up 39.70 points.