Heading into Friday’s trade, the cash cattle market would like to see more cattle trade and the market knows that its desire for fully higher prices is likely not going to be granted.
It was a mixed day throughout the livestock complex as cattle closed lower upon higher corn prices and another week of disappointing cash cattle trade. Meanwhile, the lean hog market doesn’t like the fact that African swine fever is creeping closer to our homeland, but the market was able to regain what Wednesday threw away in a panic-struck mindset.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $1.22 with a weighted average of $102.58 on 3,660 head.
December corn is up 7 1/2 cents per bushel and December soybean meal is up $1.30. The Dow Jones Industrial Average is up 153.60 points and NASDAQ is up 15.68 points.