Support Pushes Through Closing Wednesday
Livestock contracts closed mostly higher Wednesday. The lean hog complex felt some nearby pressure, but for the most part was able to rally with the rest of the marketplace.
As Wednesday comes to close, the market hangs its hat on another day of positive movement in the futures market. Thursday will pressure the market and see if there’s enough support to keep moving higher or if the traders who are invested are good with where the market sits. Hog prices are lower on the National Direct Afternoon Hog Report, down $1.57 with a weighted average of $37.82 on 5,363 head. July corn is up 1 1/2 cents per bushel and July soybean meal is down $1.90. The Dow Jones Industrial Average is up 553.16 points and NASDAQ is up 72.14 points.