Cattle Contracts Beat to Their Own Drum
While the rest of the futures market closed lower, cattle contracts kept with their rally and closed higher Wednesday afternoon.
While nearly all other markets closing lower Wednesday afternoon, cattle contracts were able to march higher and conduct their own rally regardless of how the other markets traded. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.80 with a weighted average of $61.76 on 6,960 head. December corn is down 14 1/2 cents per bushel and December soybean meal is down $7.30. The Dow Jones Industrial Average is down 943.24 points and NASDAQ is down 426.48 points.