It was another powerful day for the livestock complex as traders pushed all three of the livestock markets higher through closing. A few cattle have traded in the South for $174, but the cash cattle market still needs to trade more cattle before the week's end. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $5.76 with a weighted average price of $53.10 on 3,665 head. March corn is up 5 3/4 cents per bushel and March soybean meal is up $2.20. The Dow Jones Industrial Average is down 98.93 points.
Wednesday's Cold Storage report shared that total red meat supplies in freezers were up 4% from the previous month but down 9% from a year ago. Total pounds of beef in freezers were up 6% from the previous month but down 11% from last year. Frozen pork supplies were down 3% from last month but down 6% from last year. Stocks of pork bellies were up 16% from last month but down 11% from last year.
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