Heading into Friday’s market, cattlemen are praying that corn continues to wane lower and that the market sees a substantial movement of fat cattle come Friday.
The feeder cattle sector once again closed higher amid a mostly lower trending corn market, while the live cattle complex barely closed higher, seeming to just absorb some of the momentum from the feeder cattle market.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $6.60 with a weighted average of $116.18 on 6,746 head.
July corn is down 11 cents per bushel and July soybean meal is down $8.40. The Dow Jones Industrial Average is up 322.65 points and NASDAQ is up 97.98 points.