AgHost Livestock Close

It was a perplexing day for the cattle complex as the market's fundamental support was beyond ample, but even so, traders still decided to push the cattle contracts sharply lower ahead of the weekend as they're concerned that the market is overbought. In most cases, any time boxed beef prices were rallying and fed cash cattle prices were trading steady to $5.00 higher, the market would trade at least steady if not higher -- but not this week. Traders were null to the market's fundamentals, and because of that, the futures complex fell lower. July corn is up 6 cents per bushel and July soybean meal is down $2.60. The Dow Jones Industrial Average is down 769.83 points and NASDAQ is down 255.65 points.

From Friday to Friday, livestock futures scored the following changes: June live cattle down $1.20, August live cattle down $6.42; August feeder cattle down $3.72, September feeder cattle down $3.52; June lean hogs up $1.08, July lean hogs up $2.38; July corn up $0.02, September corn down $0.05.

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