Cattle Contracts Build Into the Weekend
The livestock contracts closed Friday split as cattle contracts closed fully higher and the lean hog complex weakened.
Heading into the weekend, cattlemen are blessed with optimism and now wait to see where the chips will fall next week. The lean hog sector didn’t close higher Friday, but with commendable slaughter speeds the industry is flat rocking and rolling to get hogs caught back up to current. Hog prices are lower on the National Direct Afternoon Hog Report, down $0.09 with a weighted average of $29.09 on 9,705 head.
August live cattle are up $0.75 at $100., August feeder cattle are up $1.23 at $135.75, August lean hogs are down $0.35 at $49.875, December corn is down 12 1/4 cents per bushel and December soybean meal is down $5.30. The Dow Jones Industrial Average is up 369.21 points and NASDAQ is up 69.69 points.