Lean Hogs Keep Nearby Contracts Elevated
Wednesday’s trade kept with the week’s unsupportive nature and left both the live cattle and feeder cattle markets to close lower.
Wednesday’s trade was disappointing for the cattle complex but yielded a mixed outcome for the lean hog market. Feeders left some cattle trade Wednesday afternoon at slightly lower prices when compared to a week ago. Hog prices closed lower on the National Direct Afternoon Hog Report, down $1.74 with a weighted average of $62.00 on 3,648 head. December corn is up 5 1/4 cents per bushel and December soybean meal is up $7.60. The Dow Jones Industrial Average is down 165.81 points and NASDAQ is down 95.17 points.