Again, lean hog and feeder cattle futures rallied, but live cattle contracts need supportive fundamental influences before pushing higher.
Lean hog futures rallied on the thought there may be export opportunities to come, while live cattle futures skipped sideways through the day. Feeder cattle futures rallied modestly on weaker corn prices. Cash cattle trade could begin to be tested come Wednesday.
Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.30 with a weighted average of $57.16 on 11,614 head.
December corn is down 5 1/2 cents per bushel and December soybean meal is down $4.20. The Dow Jones Industrial Average is up 56.35 points and NASDAQ is up 120.01 points.