Heading into next week’s trade, the cash cattle market prays that bids will come steady, if not higher, and the feeder cattle contracts hope to find weaker corn prices once again.
It was a long week, but it was a good week for the cattle contracts! With both the live cattle market and feeder cattle market finding support and being able to trade higher throughout most of the week, the complex rallied support that’s been absent from the market for quite some time.
Hog prices closed higher on the National Direct Afternoon Hog Report, up $0.34 with a weighted average of $122.62 on 3,961 head.
July corn is up 22 1/4 cents per bushel and July soybean meal is up $11.90. The Dow Jones Industrial Average is down 468.82 points and NASDAQ is down 106.02 points.