Live Cattle futures finished lower every day this week as cash trade was sharply lower and boxed beef struggles to hold steady. Feeder Cattle futures faced a higher Corn market and lower Live Cattle futures, and ended the week lower. Lean Hogs finished the week with good gains as the cash fundamentals begin to work higher. Corn futures finished the week with good gains with plenty of news from around the world supporting the complex.
Live Cattle futures finished the day lower following the futures trend and the lower cash market the past few weeks. Feeder Cattle futures were mostly lower with the exception of the August contract that is trying to stay in line with the cash market. Lean Hogs finished lower today but remain above the 20-day MA. Corn futures followed up yesterday’s sharply higher close with good gains today as the forecast shows heat remaining and the funds were short the complex.
Live Cattle futures finished lower each day of the holiday shortened week due to a poor technical picture and a struggling boxed beef market. Feeder Cattle futures also finished lower everyday this week with Corn rebounding and Live Cattle moving lower. Lean Hogs found technical support this week following last week’s Hogs and Pigs Report. The Corn market moved higher after a neutral USDA Planted Acres Report in the middle of the week.
Live Cattle futures have finished lower three days in a row after a disappointing cash trade last week and no sign of higher cash this week. Feeder Cattle futures traded to support areas today but have failed to find any positive momentum. Lean Hog futures finished the day mixed but have rebounded nicely from the lows set a few weeks ago. Corn futures found support from a neutral Acreage Report today and are over 10 cents off the lows.
Live Cattle futures traded lower for the majority of the day as cash trade has been slow to develop this week. Feeder Cattle futures quickly lost of $9.000/cwt after edging near contract highs this week despite the CME Feeder Cattle index setting a new all-time. Lean Hog futures found slight support from the Hogs and Pigs Report and finished the day mostly higher. Corn posted new contract lows this week but finished the week nearly 10 cents off the lows.
Live Cattle futures finished the day lower after trading to the highest levels since the beginning of May yesterday. Feeder Cattle futures also saw profit taking today after trading sharply higher yesterday on the positive Cattle on Feed Report. Lean Hog futures have finished higher four days in a row in the most active August contract as the cash fundamentals remain stagnant. Corn futures tested new contract lows today but finished a few cents off of those levels.
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 lost all of their gains from the beginning of the week as cash cattle traded lower and boxed beef continues its slide. Feeder Cattle had a nice recovery to end the week as the CME Feeder Cattle index continues to be supported by record cash prices. Lean Hogs posted new contract highs today after the friendly Hogs and Pigs Report Thursday afternoon. Corn futures finished the week lower ahead of next Tuesday’s Quarterly Stocks Report.
Live Cattle futures finished Tuesday mixed as the nearby months moved above last week’s cash average in the North. Feeder Cattle futures continue to be supported by the closure of the Mexican border and the potential for government incentives to cow-calf producers to retain heifers. Lean Hogs posted new contract highs across the complex Tuesday due to the pork cutout being supported. Corn futures gained back all of Monday’s losses today after failing to take out downside support levels.
Live Cattle futures finished the week higher despite a stagnant cash market and a sharply lower beef market. Feeder cattle found support on steady cash prices and weaker corn futures. Lean Hogs posted new contract highs this week but could not carry those gains into the weekend as the pork cutout works lower. Corn futures traded into technical resistance at the beginning of the week and finished near their weekly lows.
Live Cattle futures finished the day lower, led by the front months as traders wait for cash trade to develop. Feeder Cattle were also lower today, but the front months saw limited losses as the CME Feeder Cattle index is slow to decline. Lean Hogs finished the day mixed after setting new contract highs in a few contracts. Corn traded higher the entire day and took out the first technical objective, before backing off slightly.
Live Cattle finished the week lower following the cash and boxed beef markets and technical damage ensued. Feeder Cattle could not fight off the higher Corn market today and finished sharply lower. Lean Hogs finished slightly lower after setting new contract highs this week. Corn had a very strong finish to the week and finished at levels not seen in nearly three months.
Live Cattle futures finished sharply lower today cash trade has drifted lower and boxed beef has grown stagnant. Feeder Cattle futures finished the day limit lower as technical selling pushed the market below the 20-day MA. Lean Hogs traded mixed today as the pork cutout continues to be supported by boxed beef. Corn futures traded in a narrow range as traders look toward Friday’s WASDE Report to get an update on the U.S. Corn yield.
Live Cattle futures finished lower every day this week as boxed beef and cash prices have fallen stagnant. Feeder Cattle showed a weekly loss for the first time in nearly three months as the Feeder Cattle index works sideways and feed costs increase. Lean Hog futures continue to be supported by the strong pork cutout and cash markets. Corn had a mixed week but finished in the middle of the range as many question the size of the U.S. Corn crop.
Live Cattle futures traded both sides of steady today before finishing mixed as traders weigh out the increased slaughter totals and a boxed beef market that has grown stagnant. Feeder Cattle futures traded with extreme volatility to start the week as cash Feeder Cattle continue to set new record highs. Lean Hogs posted a new high for the move as the pork cutout remains supported while the cash markets work lower. Corn futures started the week lower but finished the day on a positive note as many question whether the U.S. will actually see as big of a yield as currently estimated.
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.
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