Live Cattle futures pushed to new highs for the move today due to fund buying in anticipation of a higher cash market. Feeder Cattle futures could not post new highs today but finished the day higher as the CME Feeder Cattle index approaches record highs. Lean Hogs posted new contract highs today across most of the complex as the cash markets continue to be supported. Corn futures finished the day higher and are now testing overhead resistance.
Live Cattle futures finished the day mixed with the front month higher and the deferred contracts sharply lower despite a higher cash market this week. Feeder Cattle futures struggled all day and finished sharply lower on what looked like end of the month profit taking. Lean Hogs finished slightly lower after posting new contract highs this week. Corn futures bounced off of their lows today but posted new lows for the week this afternoon.
Live Cattle futures finished the day slightly lower as cash trade has yet to be established and boxed beef has been supported. Feeder Cattle futures recovered nicely today as the cash market remains strong. Lean Hogs posted new contract highs across most contracts today with the cash fundamentals continuing to work higher. Corn futures have failed to find follow-through this week as the market continues to digest the large supplies of U.S. Corn.
Live Cattle futures started the day sharply lower but followed the higher cash market and finished the day with sizable gains. Feeder Cattle futures tested downside support this morning and finished the day with slight gains. Lean Hog futures posted new contract highs yesterday but finished the week mixed. Corn futures finished the week higher after a huge week of exports.
Live Cattle futures finished the day higher after trading mixed all day, fearing a sharply lower equity market. Feeder Cattle futures finished higher after the Screwworm rumors from last week were confirmed untrue. Lean Hog futures continue to push to new contract highs as the cash fundamentals have turned positive. Corn futures traded in a tight range today and could not take out Friday’s high.
Live Cattle futures traded lower to end the week after another week of steady cash trade. Feeder Cattle futures fell victim to Screwworm rumors and traded down to limit lower many times today despite the rumors being untrue. Lean Hogs found support from the higher cash market this week and finished higher each of the last four days. Corn futures finished higher today but will finish the week with sharp losses.
Live Cattle futures continue to follow the Feeder Cattle complex higher as cash fat cattle remain stagnant and boxed beef is lackluster. Feeder Cattle futures continue to be supported by the Feeder Cattle index and now, a sharply lower corn market. Lean Hogs traded mixed today after many contracts posted new contract highs at the end of last week. Corn futures have been under heavy pressure following yesterday’s WASDE Report that showed increased corn production for 2025.
Live Cattle futures finished the week lower as the cash market fails to find a spark. Feeder Cattle futures followed the Feeder Cattle index higher this week but could not hold all of those gains through Friday. Lean Hogs posted new highs for the move this week and many of the deferred contracts posted new contract highs despite the pork cutout moving lower. Corn futures are back to the middle of their range that began in the middle of October as traders wait for the WASDE Report Monday morning.
Live Cattle futures have traded higher to start the week as cash trade has yet to be established. Feeder Cattle futures have surged higher to start the year following the CME Feeder Cattle index. Lean Hogs finished the day mixed as the pork cutout has been stagnant for the past week. Corn futures could not hold the gains from the beginning of the day and finished slightly lower but remain range bound.
Live Cattle futures are following the cash market higher and are now testing contract and all time highs. Feeder cattle futures continue to watch the CME feeder cattle index as it has set an all-time high in the last week but has since moved back lower. Lean Hogs have now finished higher nine days in a row and have taken out overhead resistance. The corn market is keeping a close eye on weather models ahead of the U.S. growing season and expected large corn acres.
With markets closed tomorrow, the cattle complex finished the week with big gains as the cash markets continue to be red hot. Fat cattle traded as high as 213 in the North this week while the CME feeder cattle index posted a new all-time high. Traders are hopeful that talks with Japan open the door to continued export business. Corn futures turned sideways as corn planting moves forward and export demand remains strong.
Live and Feeder Cattle futures have both rallied into technical resistance as open interest continues to decrease. Cash trade has yet to be established this week after trading $3.50 lower a week ago. Lean Hog futures also gained back most of their losses seen over a week ago as cash fundamentals and the pork cutout all drift lower. Nearby corn futures have worked lower after a six day streak of higher closes while new crop has been steady higher this week.
The cattle complex traded in correlation with the equity markets all week but finished the week on a positive note. Cash cattle traded lower towards the beginning of the week as sellers were able to capture a good basis. Lean hogs fundamentals have fallen lower while the futures rallied to finish the week. Corn finished higher every day this week as the U.S. carryout is now below 1.5 billion bushels and the U.S. growing season is right around the corner.
The cattle complex has traded with extreme volatility to begin the week as the equity markets have been under heavy pressure. Traders are waiting to see what cash cattle looks like as packers continue to have slim inventories but attempt to buy cattle cheaper with a lower futures market. Lean hog futures have been under pressure all week as traders worry about the impact the new tariffs will have on pork export demand. Corn traded into overhead resistance levels on Tuesday and set up an important day on Wednesday to see if higher prices are in the near future.
Chinese tariff retaliations sent all livestock markets limit lower on Friday. Live cattle and feeder cattle have been unable to shed the negative news and lower equity markets as the cash fundamentals remain strong. Lean hog futures are worried about export demand to China with the reciprocal tariffs in place. Corn futures faired much better this week after the USDA Prospective Planting report confirmed more corn acres in 2025.
Live cattle futures moved higher following the higher boxed beef market, while feeder cattle continue to follow record-high prices in sale barns. Lean hogs continue to be cautious as tariffs with North American trade partners are set to go into place on Wednesday. Corn has rallied nearly 20 cents since the USDA Prospective Planting Report that confirmed larger corn acres than a year ago.
Cash trade in the country has been slow to develop this week as feedlots are in no hurry to sell cattle and packers are not interested in increasing their bids. Cash feeder cattle continue to set records across all classes of cattle. The USDA Hogs and Pigs Report showed there are less hogs than the estimates had thought, but Lean Hog futures could not hold onto the early gains on Friday. Corn futures posted a new low for the month as traders await the USDA numbers for 2025 acres.
After setting new contract and all-time highs to finish last week, live cattle and feeder cattle futures have turned lower and in volatile fashion while the cash fundamentals surrounding both complexes remain strong. Lean hog traders are waiting for the latest USDA hog inventory update while cash fundamentals have become stagnant. The corn market has been trading sideways as the industry waits for the first glimpse into the 2025 growing season with the release of the Prospective Planting Report next Monday.
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