Live Cattle: Live Cattle futures have finished lower three days in a row and fell below technical support levels today. End of the month and end of the quarter selling the past few days came after cash trade was a bit disappointing last week. There were cattle in the North that traded at 260 but most packers had backed their bids up to 258 by the end of the day Friday and trade in the South took place at 258. Although these prices are near all-times highs, they were less than the expectations of 262 to 265 for the week. Boxed beef was quoted higher this morning with choice up $3.54 to $394.98 and select $1.17 higher at $375.35. Choice boxes peaked at just over $400 last week but fell sharply to end the week. The Trump administration announced today they plan to release $500 million in payments to help keep small and midsized beef packers slaughtering. The news hit the market and there was a quick two minute spike within the cattle complex but could not push prices higher throughout the day. There has been no cash trade up to this point of the week but packers have thrown out bids of substantially lower money with the futures trading lower and the August contract now being the lead month.
Feeder Cattle: Feeder Cattle futures traded down to support lines this morning and held at those levels going into the end of the day. Feeder Cattle also traded lower to start the week despite the Corn market trading sharply lower. The CME Feeder Cattle index remains at record levels despite being quoted lower each of the past two days. Today, the index was quoted at $377.40 down $2.99 on the day through Monday’s sales. Cheap cost of gains have helped keep cash prices elevated especially for lighter cattle. Open interest continues to climb slowly within the complex and was nearing 65,000 contracts before today’s trade and is now at the highest levels since the beginning of May. The Feeder Cattle futures will continue to keep a close eye on the Feeder Cattle index along with Corn prices going forward. Sales this week will be limited due to the July 4 holiday but there will be plenty of featured sales and barbecue sales in the coming weeks.
Lean Hogs: Lean Hogs finished the day mixed throughout the complex today. The August contract closed $0.925 higher while December was $0.325 lower, both $1.000 off their highs on the day. We have seen two consecutive closes above the 20-day MA for the first time since May which is a bullish technical signal for the market. The August contract has tested the 20-day MA many times since the middle of May but found resistance at that line. Chart resistance in the August contract is between $99.25 and $100.75 while support areas are $96.75 and $94.00. The Lean Hog index is currently at $91.41, down $0.23 from the previous week. In the short term, larger supplies caused by higher weights and year-over-year similar harvesting rates, have put pressure on both the futures and cash prices. Long term, demand continues to be the question mark of the pork complex. The cutout price is trading nearly $25 below last year’s price. Traders continue to watch for higher retail and wholesale prices to confirm a change in direction to the hog complex.
Corn: The Corn market found support from today’s Quarterly Stocks Report and Planted Acreage Report. Total stocks were increased from the WASDE Report at the beginning of the month but below the average trade estimates ahead of the report. Planted Corn acres were actually above the pre-report guess but lower than a year ago. Today’s action indicates that traders were anticipating a sharply higher acre number and even with a slightly bearish acre total, the market worked higher. The report may not have been bullish from a production standpoint, but it wasn’t overly bearish and the market pushed higher. The December contract finished the day more than six cents off its highs but recovered nearly six cents from a low set in the final hour. Crop conditions that were released yesterday afternoon showed the condition of the Corn crop dropped 1% to 67% good to excellent and is now 6% lower than a year ago. Export inspections were also released yesterday and showed another good week of corn shipments. Currently, the U.S. is 147 million bushels ahead of the pace to meet the current USDA export goal. The marketing year will end August 31.
Closing Prices
Market
Month
Last
Change
Corn
Sept
416.75
6.50
CHI Wheat
Sept
589.25
9.50
KC Wheat
Sept
625.25
10.50
Soybeans
August
1124.25
5.00
Soy Oil
August
66.93
1.93
Soy Meal
August
303.90
0.10
Live Cattle
August
242.425
1.150
Feeder Cattle
August
364.600
2.875
Lean Hogs
July
94.325
0.500
Crude Oil
August
70.09
0.66
Ch Cutout
394.98
3.54
Sel Cutout
375.35
1.17
Feeder Index
377.40
2.99
Pork Cutout
97.66
2.29
Dollar Index
101.137
0.0320
DOW
52,319
136
National Corn Basis
-25.84
0.11
National Bean Basis
-43.23
2.81
Dates to Remember
June 30- Quarterly Grain Stocks & Planted Acreage
June 30- June Live Cattle Expiration
July 3- No Markets
July 10- WASDE Report
Hog Fundamentals
Current
One Week Ago
Change
One Year Ago
Change
Lead Month Future
94.325
94.225
0.100
110.100
15.775
National Cash
93.44
97.77
4.33
111.88
18.44
Index
91.41
91.64
0.23
110.99
19.58
Cutout
98.66
96.08
2.58
115.37
16.71
IA/SMN Cash
97.35
97.35
0.00
111.85
14.50
IA/SMN Weights
286.10
287.20
1.10
285.30
0.80
Slaughter
2,371,000
2,371,000
0
2,389,368
18,368
Cattle Fundamentals
Current
One Week Ago
Change
One Year Ago
Change
North Cash
259.56
231.51
South Cash
258.00
224.13
North Steer Basis
2.50
19.89
Choice Boxes
394.98
400.26
5.28
395.56
0.58
Select Boxes
375.35
382.77
7.42
381.10
5.75
Spread
19.63
17.49
2.14
11.46
8.17
Carcass Weights
890
892
2
863
27
Slaughter
537,000
526,000
11,000
561,022
24,022
FC Index
377.40
373.00
4.40
314.07
63.33
Cash Cattle Markets
Region
This Week
Last Week
Last Year
TX/OK/NM
$258.00
$224.00
KS
$258.00
$224.13
NE
$259.56
$231.51
IA/MN
$259.85
$231.63
CFTC Disaggregated COT Report
As of: 6/23/2026
Commodity
Current Managed Money
Change
Current Producer/Commercial
Change
Total OI
Total OI Change
Live Cattle
126,025
1,676
-172,359
1,407
321,977
3,489
Feeder Cattle
15,227
2,104
-8,715
777
64,513
300
Lean Hogs
-25,560
4,601
-52,108
6,316
297,285
911
Corn
-69,691
23,264
-285,394
32,617
1,744,472
56,293
Soybeans
36,679
16,139
143,660
15,797
895,782
24,205
Live Cattle Markets
August Live Cattle fell below the 20-day MA today. Support is at the 100-day MA of 239.275 and then 238.550. Resistance is at the 20-day MA of 243.450 followed by 245.825.
Feeder Cattle Markets
August Feeder Cattle traded near the 20-day MA today. Support is at the 20-day MA of 361.200 and then the 100-day MA of 359.300. Resistance is at 367.900 and then 377.400.
Lean Hogs Markets
August Lean Hogs settled above the 20-day AM for the second day in a row. Resistance is at 100.000 and then 101.025. Support is at the 20-day MA of 96.850 followed by 95.425.
Corn Markets
September Corn posted a new contract low today. Support is at that low of 406 1/4 and then 400. Resistance is at the 20-day MA of 425 followed by 427.
This material should be construed as the solicitation of an account, order, and/or services provided by Producers Commodities LLC, NFA ID: 0355787 and represents the opinions and viewpoints of the author. It does not constitute an individualized recommendation or take into account the particular trading objectives, financial situations, or needs of individual customers. Additionally, this material should not be construed as research material. The trading of derivatives such as futures and futures options may not be suitable for all investors. Derivatives trading involves substantial risk of loss, and you should fully understand the risks prior to trading. Past results are not necessarily indicative of future results. Producers Commodities LLC is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but its accuracy, timeliness, and/or completeness cannot be guaranteed. Contact designated personnel from Producers Commodities LLC for specific trading advice to meet your trading preferences or goals.
Producers Livestock offers livestock sourcing and marketing, commodities trading and hedging and loans and credit facilities to farmers and processors in the Midwestern US and Central Plains.
6/30/2026 Market Commentary
Live Cattle: Live Cattle futures have finished lower three days in a row and fell below technical support levels today. End of the month and end of the quarter selling the past few days came after cash trade was a bit disappointing last week. There were cattle in the North that traded at 260 but most packers had backed their bids up to 258 by the end of the day Friday and trade in the South took place at 258. Although these prices are near all-times highs, they were less than the expectations of 262 to 265 for the week. Boxed beef was quoted higher this morning with choice up $3.54 to $394.98 and select $1.17 higher at $375.35. Choice boxes peaked at just over $400 last week but fell sharply to end the week. The Trump administration announced today they plan to release $500 million in payments to help keep small and midsized beef packers slaughtering. The news hit the market and there was a quick two minute spike within the cattle complex but could not push prices higher throughout the day. There has been no cash trade up to this point of the week but packers have thrown out bids of substantially lower money with the futures trading lower and the August contract now being the lead month.
Feeder Cattle: Feeder Cattle futures traded down to support lines this morning and held at those levels going into the end of the day. Feeder Cattle also traded lower to start the week despite the Corn market trading sharply lower. The CME Feeder Cattle index remains at record levels despite being quoted lower each of the past two days. Today, the index was quoted at $377.40 down $2.99 on the day through Monday’s sales. Cheap cost of gains have helped keep cash prices elevated especially for lighter cattle. Open interest continues to climb slowly within the complex and was nearing 65,000 contracts before today’s trade and is now at the highest levels since the beginning of May. The Feeder Cattle futures will continue to keep a close eye on the Feeder Cattle index along with Corn prices going forward. Sales this week will be limited due to the July 4 holiday but there will be plenty of featured sales and barbecue sales in the coming weeks.
Lean Hogs: Lean Hogs finished the day mixed throughout the complex today. The August contract closed $0.925 higher while December was $0.325 lower, both $1.000 off their highs on the day. We have seen two consecutive closes above the 20-day MA for the first time since May which is a bullish technical signal for the market. The August contract has tested the 20-day MA many times since the middle of May but found resistance at that line. Chart resistance in the August contract is between $99.25 and $100.75 while support areas are $96.75 and $94.00. The Lean Hog index is currently at $91.41, down $0.23 from the previous week. In the short term, larger supplies caused by higher weights and year-over-year similar harvesting rates, have put pressure on both the futures and cash prices. Long term, demand continues to be the question mark of the pork complex. The cutout price is trading nearly $25 below last year’s price. Traders continue to watch for higher retail and wholesale prices to confirm a change in direction to the hog complex.
Corn: The Corn market found support from today’s Quarterly Stocks Report and Planted Acreage Report. Total stocks were increased from the WASDE Report at the beginning of the month but below the average trade estimates ahead of the report. Planted Corn acres were actually above the pre-report guess but lower than a year ago. Today’s action indicates that traders were anticipating a sharply higher acre number and even with a slightly bearish acre total, the market worked higher. The report may not have been bullish from a production standpoint, but it wasn’t overly bearish and the market pushed higher. The December contract finished the day more than six cents off its highs but recovered nearly six cents from a low set in the final hour. Crop conditions that were released yesterday afternoon showed the condition of the Corn crop dropped 1% to 67% good to excellent and is now 6% lower than a year ago. Export inspections were also released yesterday and showed another good week of corn shipments. Currently, the U.S. is 147 million bushels ahead of the pace to meet the current USDA export goal. The marketing year will end August 31.
Closing Prices
Dates to Remember
June 30- Quarterly Grain Stocks & Planted Acreage
June 30- June Live Cattle Expiration
July 3- No Markets
July 10- WASDE Report
Hog Fundamentals
Cattle Fundamentals
Cash Cattle Markets
CFTC Disaggregated COT Report
As of: 6/23/2026
Live Cattle Markets
August Live Cattle fell below the 20-day MA today. Support is at the 100-day MA of 239.275 and then 238.550. Resistance is at the 20-day MA of 243.450 followed by 245.825.
Feeder Cattle Markets
August Feeder Cattle traded near the 20-day MA today. Support is at the 20-day MA of 361.200 and then the 100-day MA of 359.300. Resistance is at 367.900 and then 377.400.
Lean Hogs Markets
August Lean Hogs settled above the 20-day AM for the second day in a row. Resistance is at 100.000 and then 101.025. Support is at the 20-day MA of 96.850 followed by 95.425.
Corn Markets
September Corn posted a new contract low today. Support is at that low of 406 1/4 and then 400. Resistance is at the 20-day MA of 425 followed by 427.