The livestock complex has had a successful week and looks to Thursday hoping that fruitful export sales are on the horizon.
It was another vigorous day in the livestock complex as the live cattle, feeder cattle and lean hog contracts all closed higher. The market’s fundamentals continue to beg for the lean hog market to keep trading higher, and the new-found support in the cash cattle market is thankfully carrying both the live cattle and feeder cattle contracts to higher levels. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.38 with a weighted average of $99.19 on 9,231 head. May corn is up 6 1/4 cents per bushel and May soybean meal is up $2.70. The Dow Jones Industrial Average is up 16.02 points and NASDAQ is down 9.54 points.