AgHost Livestock Close

Cattle futures posted a strong two-day market slide, closing the month of February with a less than optimistic view. Aggressive triple-digit losses seen in all live cattle and feeder cattle futures Friday added to the growing concern that the ability to hold recent price values and carry the higher wholesale beef values into the spring and summer months is adding to the general market pressure. Lean hog trade seems to be holding in very well despite being surrounded by market weakness in nearly all other markets Friday. Steady to moderately lower moves in nearby lean hog futures kept overall lean hog markets away from the liquidation pressure seen in cattle trade. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.62 with a weighted average of $90.38 on 5,079 hogs. May corn closed up 5 at $4.485 and May soybean meal closed down $0.40 at $320.5. The Dow Jones Industrial Average is down 521.28 at 48,977.92.

From Friday to Friday, livestock futures scored the following changes: February live cattle off $2.57, April live cattle off $9.78; March feeder cattle off $12.60, April feeder cattle off $13.85; April lean hogs up $2.05, April lean hogs up $2.05; April pork cutout unchanged, May pork cutout unchanged.