The futures market closed mostly higher, but unfortunately couldn’t spark any positive momentum in the cash cattle market.
It was a mixed market for livestock enthusiasts as cash cattle sellers don’t like the prices that surfaced, but the feeder cattle and lean hog contracts were delighted to trade higher. Thursday’s export report could heavily wane on the hog complex if it’s as bearish as last week’s. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.82 with a weighted average of $82.75 on 7,135 head. May corn is down 9 3/4 cents per bushel and May soybean meal is down $2.90. The Dow Jones Industrial Average is down 121.43 points and NASDAQ is down 361.04 points.