The lean hog market started rallying right from the day’s opening whistle and kept its momentum through closing.
It was another strong day for the lean hog contracts, but the cattle contracts couldn’t interest traders whatsoever. As the cattle market looks for fundamental support, both the live cattle and feeder cattle contracts are left to trade lower in the meantime. Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.13 with a weighted average of $78.65 on 5,951 head. March corn is down 8 cents per bushel and March soybean meal is down $3.00. The Dow Jones Industrial Average is up 603.14 points and NASDAQ is up 396.49 points.