Feeders Move the Cash Cattle Market Higher
Looking back, the cattle complex is glad to have traded lower earlier this week as Thursday’s spark helped feeders move the cash market higher.
It was a big day for the livestock market as Thursday saw cattle contracts move higher after trading lower throughout the week. In addition, the unveiling of the quarterly hogs and pigs report was highly sought after. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.36 with a weighted average of $64.71 on 4,230 head. December corn is down 5 cents per bushel and December soybean meal is down $8.10. The Dow Jones Industrial Average is up 52.31 points and NASDAQ is up 39.29 points.