Thursday’s trade was slow and mundane, but by the day’s end, the market walked away closing mostly higher and relishing on the fact that carcass weights are dropping.
It was a slow day for the livestock complex as the contracts struggled to draw any sizeable attention from traders, but low and behold, before the day closed, the market was able to scale higher in the live cattle, lean hog and feeder cattle contracts.
Hog prices closed sharply higher on the National Direct Afternoon Hog Report, up $4.72 with a weighted average of $119.72 on 7,305 head.
July corn is up 8 1/4 cents per bushel and July soybean meal is down $4.80. The Dow Jones Industrial Average is up 19.10 points and NASDAQ is up 108.58 points.