Heading into Tuesday’s trade, the livestock complex will hopefully continue Monday’s rally as strong consumer demand supports the market thoroughly.
Monday’s trade was mostly optimistic as the futures complex closed higher and both pork cutouts and boxed beef prices jumped higher as well. The feeder cattle market continues to closely monitor Superior’s Video Royale sale as a lot of producers are making calls to market their calves.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.70 with a weighted average of $101.00 on 3,323 head.
December corn is up 14 cents per bushel and December soybean meal is up $5.70. The Dow Jones Industrial Average is down 97.31 points and NASDAQ is up 8.38 points.