Thursday’s trade was beneficial for the hog market, but cattle contracts scaled lower.
Thursday’s trade was centered around the follow-through support found in the morning’s export report. Hog prices jumped higher as the report shared a marketing year high. Meanwhile the vigor in the live cattle complex died out and feeder cattle contracts kept scaling lower even though the corn market closed lower as well. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.48 with a weighted average of $65.11 on 6,050 head. December corn is down 1 3/4 cents per bushel and December soybean meal is down $2.20. The Dow Jones Industrial Average is up 122.05 points and NASDAQ is up 56.38 points.