Heading into Thursday’s market, the cash cattle market is hopeful that a strong export report will give the market a boost and help feedlots attain at least steady prices.
It was a mixed day for the livestock contracts. The feeder cattle market rallied amid a weak grain complex, the lean hog complex closed mixed as the nearby contracts saw interest, but the deferred contracts did not, and the live cattle complex had a rather disappointing day as the futures market skewed lower.
Hog prices closed higher on the Daily Direct Hog Report, up $0.86 with a weighted average of $107.73 on 7,195 head.
May corn is down 28 cents per bushel, and May soybean meal is down $6. The Dow Jones Industrial Average is up 518.76 points, and the NASDAQ is up 487.93 points.