Live Cattle futures pushed to new contract highs all the way through the complex today as cash optimism continues to carry the market. Feeder Cattle futures posted new highs for the move and nearing their highs from October. Lean Hog futures finished lower in every month except April and finished lower each of the final four days this week. Corn futures failed to follow the soybean complex higher as a poor technical picture has set into the complex.
Live Cattle futures finished lower today with the exception of the April Contract, ending the streak of higher closes at seven days. Feeder Cattle futures also finished lower as the cash market is slow to catch up with last week’s move higher in the futures. Lean Hogs finished the day mixed after a sharply higher day on Monday as the pork cutout has moved near $100. Corn futures finished the day lower but has held at long term support over the last four days.
With no markets tomorrow for Good Friday, today is the final trading day of the week and Live Cattle futures pushed to new contract highs in coming months as the cash market jumped higher. Feeder Cattle futures continue to lead the complex and made new weekly highs late in the day today. Lean Hog futures finished the week lower and filled the chart gaps left last week. Corn futures could not find support from the sharply higher crude oil market today and finished mixed.
Live Cattle futures have now finished higher four days in a row and have gained nearly $10 over that span. Feeder Cattle futures have also finished higher each of the past four days and are now back near record levels. Lean Hog futures failed at overhead resistance and have finished lower the past two days after finding support from the Hogs and Pigs Report on Friday. Corn futures finished the day higher despite the USDA showing more corn acres than the pre-report estimates but still less acres than a year ago.
Live Cattle futures pushed higher today on limited bullish news and a steady cash market. Feeder Cattle traded to the highest levels since the beginning of the month as cash Feeder Cattle have began to move higher again. Lean Hog futures finished the day higher in all months except April after yesterday’s Hogs and Pigs Report. Corn futures finished the week lower despite crude oil pushing back towards the highs of the range.
Live Cattle futures finished the day mixed in the nearby contracts and higher in the deferred contract as the cash market for this week is still in question and boxed beef remains near $400. Feeder Cattle futures traded to the highest levels in over two weeks but finished the day well off of the highs. Lean Hog futures continue to see long liquidation affect the market ahead of this week’s Hogs and Pigs Report. Corn futures could not hold all of their gains into the close but still finished the day in positive territory.
Live Cattle futures recovered to end the week as traders waited for cash trade for the week and this afternoon’s Cattle on Feed Report. Feeder Cattle futures were sharply lower on Thursday and recovered some of those losses today as the CME Feeder Cattle index has found support. Lean Hogs traded to the lowest levels in two months as the managed money has been exiting the complex. Corn futures finished the week with small losses after recovering from the lows set early in the week.
Live Cattle futures have opened higher both days this week as cash expectations are for higher money. The CME Feeder Cattle index was quoted higher for the first time in over three weeks today, but is now at a discount to the March futures contract. Lean Hogs have turned in a quiet start to the week while the pork cutout remains supported. Corn futures finished the day mixed after a sharply lower day yesterday as traders worry about trade relations with China.
Live Cattle futures finished the week slightly lower as end of the week profit-taking brought selling at the end of the day. Feeder Cattle futures finished mixed as the nearby contracts continue to stay in line with the current cash fundamentals. Lean Hogs finished lower each of the final three days this week despite the pork cutout pushing to new highs this week. Corn futures had a volatile week and posted highs early Sunday night as crude oil continues to trade in big ranges.
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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