The feeder cattle complex stood its ground and defended its higher trade, even though the corn market closed modestly higher.
Tuesday’s trade wasn’t kind to the lean hog market, but the cattle contracts had another strong day even though the corn market tried to pressure the contracts into trading lower early in the afternoon.
Hog prices are unavailable on the National Direct Afternoon Hog Report due to technical issues at UDSA.
July corn is up 10 1/2 cents per bushel and July soybean meal is up $4.70. The Dow Jones Industrial Average is down 473.66 points and NASDAQ is down 12.43 points.