Commentary

Live Cattle futures posted a new all-time high this week before deliveries and a steady cash market forced the futures to correct in the middle of the week. Feeder Cattle continue their move higher as the Feeder Cattle index surges. Lean Hogs have found support from the beef markets and have now been adding open interest as fund buying continues. Corn futures finished the week sharply higher as many begin to doubt the size of the U.S. crop.

Live Cattle futures posted new all-time contract highs today as boxed beef continues its move higher. Feeder Cattle futures also moved sharply higher today as the CME Feeder Cattle index has moved to new records. Lean Hog futures pushed through overhead resistance to begin the week and continued that momentum today. Corn could not hold the gains from the beginning of the week and finished the day lower.

Live Cattle futures posted new contract highs this week after another week of lack luster cash trade. Feeder Cattle futures posted a new all-time high on Friday as the cash markets continue to post new records every day. Lean Hogs traded through technical resistance as the cash market remains well above the current futures market. Corn had a strong finish this week as all eyes were on the ProFarmer crop tour and their yield results.

Live Cattle traded higher for most of the day today but could not continue to upward momentum. Feeder Cattle futures posted a new contract high as fund buying continues. Lean Hogs ran into overhead technical resistance and finished lower across most months. Corn also ran into overhead resistance as ProFarmer finds good yields on their tour.

Live Cattle finished the week sharply higher after another week of disappointing cash trade. Feeder Cattle futures found support on comments from the USDA that there is no timeline for the reopening of the Mexican border. Lean Hogs finished the week higher after a three day slide lower. Corn posted a new contract low this week before rebounding and finishing nearly unchanged on the week.

Live Cattle futures finished sharply higher after the mid-day boxed beef report showed a sharp increase in prices. Feeder Cattle enjoyed a sharply lower corn market and traded back to within $3 of contract highs. Lean Hogs finished the day slightly lower as the cash market was quoted lower this morning. Corn futures were under heavy pressure as the USDA confirmed a massive crop for 2025 in the their monthly WASDE report.

Live Cattle futures finished the week sharply lower as the cash market did not meet early-week expectations and fund liquidation took place. Feeder Cattle futures finished the week limit lower on unconfirmed rumors of screwworm being found in the Oklahoma. Lean Hogs failed to hold the big gains seen early in the week and finished the week mixed. Corn posted a new contract low this week before rallying 15 cents, but could not hold onto all of those gains on Friday.

Live Cattle surged higher on Tuesday on fund buying. The August contract posted a new contract and all-time high as expectations for cash this week are higher. Feeder Cattle also posted new contract and all-time highs as the futures continue to follow the record cash market. Lean Hogs have strung together five higher days in a row on technical buying and good pork demand. Corn futures have failed to find support and have posted new contract lows both days this week as we are moving closer to harvesting a monster crop.

Live Cattle futures posted new all-time highs this week before falling lower on Thursday. Cash cattle traded higher again this week and helped the futures rebound to close the week. Feeder Cattle also corrected lower but the CME Feeder Cattle index posted a new record high on Friday. Lean Hogs recovered nicely on Friday despite the pork cutout moving lower. Corn continues to fail to find any traction as traders continue to price in a massive U.S. corn crop.

The Live Cattle complex posted new contract and all-time highs today as the futures market remains discounted to the cash market. Feeder Cattle also posted new all-time highs as climbing cash prices and the lower corn market have given the funds a reason to add to their long position. Lean hogs traded sharply lower today on technical selling and a stagnant pork cutout. Corn continued its lower trade as U.S. Corn production looks to be large.