Sharp gains are developing in feeder cattle futures Tuesday morning. Lack of support in corn prices is causing additional buyer support to step into livestock futures.
Livestock futures are mixed Wednesday morning with lean hog futures holding moderate-to-strong, near-term gains. Cattle futures are under pressure as weaker grain markets are limiting wider buyer support. Corn futures are lower at midday. September corn futures are holding 6-cent losses at midday. Stock markets are higher in light trade. The Dow Jones is 108 points higher while Nasdaq is up 33 points.
Pressure in the grain ...