Pressure Keeps Lean Hogs and Live Cattle Contracts Captive
Wednesday was another mixed day for the livestock market as feeders closed higher but left the live cattle and lean hog market lower.
Wednesday’s trade wasn’t favorable for the livestock sector as the live cattle and lean hog markets still closed lower. Following Monday’s drastic downward nosedive, the feeder cattle complex was able to close higher as traders saw an opportunity to invest. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.38 with a weighted average of $63.22 on 10,347 head. December corn is up 5 cents per bushel and December soybean meal is up $6.90. The Dow Jones Industrial Average is down 97.97 points and NASDAQ is down 31.80 points.