Cash Cattle Stuck at $114
It was a disappointing Friday as the e livestock sector closed lower and cash cattle weren’t able to see the support needed to move the market higher.
Live cattle closed lower, feeder cattle closed lower and even the lean hog market closed mostly lower, rounding the week out on a sour note for the livestock contracts. Heading into next week’s trade, confirming how much more upside the market has in the lean hog sector and pinpointing how aggressive packers will be is what will be on producers’ minds over the weekend. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.58 with a weighted average of $78.52 on 6,440 head. May corn is down 2 1/4 cents per bushel and May soybean meal is down $1.60. The Dow Jones Industrial Average is down 469.64 points and NASDAQ is up 72.91 points.