The marketplace is concerned about the what the ramifications will be with the near COVID-19 variant as unfortunately little is known about its affects at this point.
The futures contracts struggled as the onset of the new COVID-19 variant comes with more unknowns than knowns. The feeder cattle complex was the only livestock contract able to close higher, and even its nearby contracts struggled. Hog prices closed higher on the National Direct Afternoon
Hog Report up $1.45 with a weighted average of $56.60 on 7,160 head.
March corn is down 14 3/4 cents per bushel and January soybean meal is down $0.90. The Dow Jones Industrial Average is down 652.22 points and NASDAQ is down 245.14 points.