Holding Out Served Southern Feedlots Well
Although the livestock complex closed mixed, there were some pivotal pieces of Wednesday’s trade that helped the market.
It’s been a quiet week for the cash cattle market, but around the noon hour Wednesday some cash cattle trade developed in parts of Kansas for $2.00 higher, giving the board the confidence it needed to hold nearby live cattle contracts higher. The feeder cattle complex traded mostly lower, and although the lean hog futures closed lower too, cash prices weren’t too shabby. Hog prices closed higher again on the National Direct Afternoon Hog Report, up $1.91 with a weighted average of $60.88 on 8,833 head. December corn is up 5 3/4 cents per bushel and December soybean meal is up $6.50. The Dow Jones Industrial Average is up 36.78 points and NASDAQ is down 139.85 points.