Livestock Contracts See Mixed Support Monday
The lean hog contracts found an opportunity through Monday’s trade to scale higher and cautiously step off the sideways business that’s developed over the last month.
Monday was a fruitful day for both the lean hog and feeder cattle contracts, but the live cattle market’s luck wasn’t as rich. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.15 with a weighted average of $56.67 on 10,190 head. March corn is down 7 3/4 cents per bushel and January soybean meal is down $5.80. The Dow Jones Industrial Average is down 271.73 points and NASDAQ is down 7.11 points.