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As Friday rolled around, the livestock contracts finally caught a break and were able round out the week fully higher.
GENERAL COMMENTS:
When Friday rolled around traders looked to the livestock contracts and saw opportunity, which led to a day of higher trade for the live cattle, lean hog and feeder cattle contracts. But heading into next week’s trade, the market still has to face the realities that challenged it earlier in the week.
Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.26 with a weighted average of $101.57 on 4,677 head.
May corn is up 6 3/4 cents per bushel and May soybean meal is down $6.60. The Dow Jones Industrial Average is down 229.88 points and NASDAQ is down 286.15 points.
