Looking to next week’s trade, the cattle futures hope for a more positive outcome and the lean hog market is hoping it can keep up this week’s rigorous pace.
Cattle futures felt plenty of pressure throughout the week and the cash markets did as well as packers keep buying supplies with time and calf buyers are cautious about the current state of the corn market. Meanwhile, the lean hog market continues to soar with tight supplies and stellar demand the driving forces. Hog prices closed higher on the National Direct Afternoon Hog Report, up $1.39 with a weighted average of $112.49 on 4,781 head. July corn is up 25 cents per bushel and July soybean meal is up $3.10. The Dow Jones Industrial Average is down 185.51 points and NASDAQ is down 119.87 points.