Wednesday was a mixed day for the livestock sector as cattle contracts successfully closed higher, but the lean hog complex was left to close lower.
Early Wednesday morning it didn’t look like it was going to be a promising day for the livestock complex as all three markets were trading lower. But as time went on, traders warmed up to the cattle contracts and supported the market enough to allow both the live cattle and feeder cattle markets to close fully higher.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.12 with a weighted average of $56.64 on 8,787 head and a five-day rolling average of $56.67.
March corn is up 3 cents per bushel and January soybean meal is down $4.60. The Dow Jones Industrial Average is up 59.87 points and NASDAQ is down 5.73 points.