Heading into Tuesday’s market, the livestock contracts are hopeful that the market sees modest support again.
It was a strong day for the livestock complex, as the live cattle, feeder cattle and lean hog contracts all closed higher. Heading into Tuesday’s trade, the market is hopeful that pork cutouts continue to see strong interest and that the live cattle contracts keep with their strong pace so that, hopefully, the cash cattle market can be supported in acquiring higher prices this week.
Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $0.03 with a weighted average of $97.70 on 4,661 head.
May corn is down 4 1/4 cents per bushel, and May soybean meal is down $9.10. The Dow Jones Industrial Average is down 413.04 points.