DTN Livestock Closing: Packers Keep Hunting for Hogs

    Photo: Kansas State University

    It was a dismal day for the cattle contracts as both the live and feeder cattle closed lower, and the cash cattle market weakened yet again.

    GENERAL COMMENTS:

    The lean hog contracts close mixed, but the cattle contracts closed lower as the doggish morale around this week’s cash cattle market weighs on the market. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.93 with a weighted average of $84.68 on 15,299 head. May corn is down 2 3/4 cents per bushel and May soybean meal is down $2.20. The Dow Jones Industrial Average is down 345.95 points and NASDAQ is down 274.28 points.

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