It’s been a strong week for the livestock contracts as once again the three markets close fully higher.
It’s been a phenomenal week for both the cattle contracts and lean hog market. Both markets have seen follow-through trader support and are heading into Friday’s trade fully higher.
Potentially the most interesting market to watch is how feedlots navigate this week’s cash cattle trade. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.50 with a weighted average of $57.39 on 4,890 head. March corn is down 5 cents per bushel and January soybean meal is down $1.00. The Dow Jones Industrial Average is down 177.25 points and NASDAQ is up 54.38 points.