Contracts Close Mixed but Cash Markets Rally
Heading into Friday’s trade, the cash cattle market has held stronger now cattlemen hope the board irons out the market’s uncertainty.
It was another busy day for the livestock complex as contracts danced on both sides of steady and closed primarily mixed. Feeders have taken it upon themselves to build some leverage back into the marketplace, and with this week’s strong cash cattle trade, they’ve accomplished just that. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.55 with a weighted average of $64.47 on 8,341 head. December lean hogs are down $0.25 at $62.85, December corn is up 3 3/4 cents per bushel and December soybean meal is up $5.10. The Dow Jones Industrial Average is up 35.20 points and NASDAQ is up 159.00 points.