Looking to Thursday’s trade, the lean hog market will be closely watching the week’s export report, and live cattle complex hopes to keep their momentum.
The live cattle complex dominated the livestock sector as the market closed higher in its nearby contracts and was able to see a healthy advancement throughout the cash cattle market as well. Meanwhile, the feeder cattle contracts drew back in fear of a lively corn market, and the lean hog market slid lower unable to muster any demand.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.62 with a weighted average of $63.19 on 8,035 head.
December corn is up 13 3/4 cents per bushel and December soybean meal is up $4.00. The Dow Jones Industrial Average is down 257.03 points and NASDAQ is up 1.95 points.