The cash cattle market remained untested at midday with bids and asking prices poorly defined. Significant trade volume will probably be delayed until sometime Friday. According to the closing report, the Iowa hog base closed $0.40 lower compared with the Prior Day settlement $84.50-$100.00, weighted average $95.86). The corn trade closed modestly higher, up 3 1/2 in the September and up 1 1/2 in the December.
Futures closed mixed, up 22 to down 20. Live cattle contracts settled narrowly mixed with deferreds gaining on August and October. The market generally lacked much of a ...