With no markets tomorrow for Juneteenth, Live Cattle futures finished the day lower ahead of today’s Cattle on Feed Report and the long weekend. Feeder Cattle futures posted new highs for the move today but finished the day slightly lower. Lean Hog futures finished the day mixed with the nearby contracts finishing higher and the deferred contracts slightly lower. Corn futures finished the day lower after a good recovery from the lows yesterday.
Live Cattle futures traded sharply higher today as the managed money have become buyers due to positive outside influence. Feeder Cattle also traded higher today and traded through overhead resistance levels. Lean Hog futures finished the day mixed with the nearby contracts losing ground with a cash market that has finally cooled off. Corn futures also finished mixed but well off the highs of the day.
Live Cattle futures finished the day lower but well off of their lows as news of more plant closures hit the market and cash trade is slow to develop. Feeder Cattle futures pushed through overhead resistance yesterday but finished the week lower after a big recovery from the lows set a week ago. Lean Hog futures posted new lows for the move this morning but reversed course and finished the day higher. Corn futures traded to new contract lows this morning but finished the day higher despite crude oil trading sharply lower.
Live Cattle futures recovered nicely late in the day to finish above key chart support areas. Feeder Cattle futures tested both bottom side support and overhead resistance as the CME Feeder Cattle index continues to work higher. Lean Hog futures posted new lows for the move today and are now near contract lows. Corn futures could not hold the early gains from this morning and finished the day mixed.
Live Cattle futures finished the week slightly higher but well off of their highs for the day. Feeder Cattle futures traded nearly $23.000 off of their low’s from yesterday but finished nearly $5.000 off of the highs they set this morning. Lean Hogs finished lower each of the past two days as the complex failed at the 20-day MA again. Corn futures finished lower each day this week as the July contract lost nearly 30 cents with the funds continuing to exit their long positions.
Live Cattle futures traded lower the entire day as the Feeder Cattle futures weighed on the complex. Feeder Cattle futures also traded lower all day as Screwworm rumors circulate and Secretary Rollins again addressed the situation. Lean Hog futures began the day sharply lower but found support and finished the day higher as the cash fundamentals remain supported. Corn futures posted new lows for the move and traded to the lowest levels since February today as extended forecasts do not look threatening.
Live Cattle futures finished the week lower as cash trade has been slow to develop and is lower than a week ago. Feeder Cattle futures had another volatile week and could not fill the gap that was left last week. Lean Hog futures finished the week near their lows and failed to find buying as the managed money continues to exit the complex. The nearby Corn futures traded to the lowest level in nearly three months today as crude oil futures worked lower all week. Reminder: CME Live and Feeder Cattle limits change on Monday, June 1.
Live Cattle futures finished the day mixed after two-sided trade throughout the entire day. Feeder Cattle futures also traded on both sides of steady and continue to look for direction with a poor technical picture. The deferred Lean Hog futures have now finished lower eight days in a row as the managed money have become sellers of the contract. Corn futures traded lower the entire day and have returned to important technical support areas.
Live Cattle futures fended off the sharply lower Feeder Cattle market the last two days but still finished with significant losses on the week. Feeder Cattle futures traded to the lowest levels since March today after losing over $20.000/cwt the past two days. Lean Hog futures moved to the lowest levels since December as the cash and cutout markets remain stagnant. Corn futures finished the day slightly higher heading into the three-day weekend.
Live Cattle futures finished the day mixed after traded sharply higher in the middle of the day. Feeder Cattle futures finished sharply lower again today as traders continue to fear the re-opening of the Mexican border. Lean Hogs continue their slide lower as the pork cutout and Lean Hog index continue to fall. Corn futures have started the week on a positive note after the U.S. and China have struck a trade deal.
Live Cattle futures finished the week limit lower in most months despite higher boxed beef and a well-supported cash cattle market. Feeder Cattle futures finished limit lower for the second time this week as traders fear an opening of the Mexican border. Lean Hogs turned in a quiet week as the pork cutout fell below $100. Corn finished the week lower after an overall positive week pushed the futures above resistance levels.
Live Cattle futures have finished higher each day this week despite cattle and beef at the front of many headlines. Feeder Cattle futures continue to be supported by record cash Feeder Cattle prices. Lean Hogs finished higher across all months today after testing technical support on Monday. Corn futures finished lower today for the first time in six days after testing upside resistance.
Live Cattle futures fell victim to President Trump’s comments about the price of beef and finished the day sharply lower. Feeder Cattle futures plunged to limit lower in the first minutes of trade and spent the majority of the day there. Lean Hog futures continued their slide lower as the cash and product market continue to work lower. Corn finished the week strong with higher finishes each of the final four days.
Live Cattle futures traded through the 250.000 mark for the first time ever today while Feeder Cattle also posted a new all-time high over 380.000 this afternoon. Lean hog futures continue to move lower as the cash and product markets remain under pressure. Corn futures finished the day higher after posting new lows for the move.
Live Cattle futures rallied to finish the day after cash trade in the North was better than expected. Feeder Cattle have gained nearly 25.000/cwt over the last six days and posted new all-time highs to end the week. Lean Hogs finished lower everyday this week as the cash market and pork cutout work lower. Corn futures followed the soybean complex lower after not being able to break through the 20-day MA.
Live Cattle futures have finished higher each of the first two days this week despite the lower cash market a week ago. Feeder Cattle are leading the entire cattle complex higher as new cases of Screwworm continue to be discovered in Mexico. Lean Hog futures have moved lower as the Lean Hog index and pork cutout have turned lower. Corn continues its sideways trade as harvest progresses and fresh news is lacking within the complex.
Live Cattle finished the week higher following another week of disappointing cash trade and lower boxed beef markets. Feeder Cattle finished the week above technical resistance areas after a slight recovery on Friday. Lean Hogs finished the week higher after four straight days of lower markets. Corn rebounded mid week but failed at technical resistance today.
Live Cattle futures followed the Feeder Cattle complex higher as cash trade has not been established this week. Feeder Cattle finished sharply higher as Corn continues to trade lower and cash Feeder Cattle remain at a premium to the futures. Lean Hogs finished the day lower for the second straight day after failing to post new highs on Monday. Corn futures moved lower as the USDA revised their 2024 production estimates higher in this morning’s Quarterly Stocks Report.
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