Board Scales Lower, Cash Cattle Higher
Thursday turned contracts lower, but the cash cattle market wasn’t affected.
Livestock contracts turned lower as Thursday evolved, feeling less and less confident that the market’s recent gains will continue. Heading into Friday, the market will be heavily watching cash cattle trade. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.54 with a weighted average of $37.99 on 10,784 head. December corn is up 1/2 cent per bushel and December soybean meal is down $1.80. The Dow Jones Industrial Average is up 185.46 points and NASDAQ is up 109.67 points.