Live Cattle: Live Cattle futures posted their weekly lows near the open on Monday and posted new highs for the week today, but could not hold all of those gains throughout the day. Continued fears about the war in the Middle East along with inflation hurting beef demand has caused the futures market to work lower the past two weeks. Last Friday, the workers union for the JBS plant in Greeley, Colorado announced they would be going on strike March 16. JBS announced they would not kill this week in order to fabricate the meat on hand as well as clean out coolers. Despite the Greeley plant being down this week, total estimated slaughter was up 4,000 head on the week to 525,000. Boxed beef was sharply higher this week but saw limited gains since Tuesday. This morning, choice was quoted at $397.25 which is up $10.18 on the week while select is at $390.86, up $10.79 since last Friday. Cash trade in all regions was lower this week with the North trading at 234-235 and the South trading at 234-236. The futures market continues to keep a close eye on the equity and crude oil markets, and has traded in tandem all week. This week’s CFTC Report showed the managed money as sellers of 5,487 contracts for the week ending on Tuesday. Their net long position is now 109,032 contracts and back near the low end of the last 24 months.
Feeder Cattle: Feeder Cattle futures finished the week mixed as the nearby contracts try to stay in line with the cash markets. The futures started the day sharply higher but faded throughout most of the day and pressed to the daily lows late in the day as traders squared up positions heading into the weekend. The CME Feeder Cattle index was quoted lower for the fifteenth day in a row today and is currently at $358.35, down $2.62 on the day and is $8.97 lower on the week. The higher Corn marker has hampered Feeder Cattle sales along with the lower futures price for Live Cattle. The March contract will expire on March 26 and is currently at an $8.87 discount to the CME Feeder Cattle index. The USDA will release their monthly Cattle on Feed Report next Friday and show placement numbers for the month of February. The continued closure of the Mexican border creates tighter numbers of Feeder Cattle, especially for the Southern feeding region.
Lean Hogs: Lean Hogs finished the week lower and settled below the 20-day MA for the first time in nearly a month. The futures market fell victim to the negative outside influences while the cash markets work higher. The national cash market was quoted $2.65 higher yesterday at $92.39 and the Iowa/Southern Minnesota average was quoted at $92.95, up $2.15. The pork cutout rose above the $100 level again yesterday after falling back below for two days. Yesterday, the pork cutout was $1.88 higher at $100.29 and is the second highest price in the last two months. The drop in the futures has created a poor technical picture as traders have began to liquidate their long position. Today’s CFTC Report showed the funds as buyers of 3,668 contracts through Tuesday. The most active June contract lost $3.300 during the final three days of the week following the end of the data for this report.
Corn: Corn futures finished higher each of the final three days this week, but the nearby May contract finished 8 3/4 cents off of the highs posted on Sunday night. Most of the fundamental news has been forgotten this week as traders continue to price in the increased cost of crude oil and fuel in general, as well as using the grains as an inflation hedge. Export sales that were released yesterday were in the upper end of the range from past weeks. Japan, Mexico, and South Korea remain as the top destinations for U.S. Corn. Currently, the U.S. is 4% ahead of pace needed to meet the USDA export goal. The main focus this week, and will remain the focus for the foreseeable future, is the crude oil market and the war in Iran. This week’s CFTC Report showed the funds as massive buyers of the corn market. For the week, they bought 140,297 contracts, increasing their long position to 193,271 contracts. The producer/merchant sector were sellers of 143,803 contracts this week indicating large farmer selling took place.
Closing Prices
Market
Month
Last
Change
Corn
May
467.25
4.75
CHI Wheat
May
613.75
15.25
KC Wheat
May
630.00
16.50
Soybeans
May
1225.25
2.00
Soy Oil
May
67.44
0.02
Soy Meal
May
322.70
2.50
Live Cattle
April
230.900
0.350
Feeder Cattle
Mar
349.475
1.250
Lean Hogs
April
93.450
0.900
Crude Oil
April
97.15
1.41
Ch Cutout
397.25
0.16
Sel Cutout
390.86
0.04
Feeder Index
358.35
2.62
Pork Cutout
100.29
1.88
Dollar Index
100.357
0.6200
DOW
46,676
1
National Corn Basis
-41.38
0.15
National Bean Basis
-75.04
0.03
Dates to Remember
March 20- Cattle on Feed Report
March 26- March Feeder Cattle Expiration
March 26- Hogs and Pigs Report
March 31- Prospective Planting
Hog Fundamentals
Current
One Week Ago
Change
One Year Ago
Change
Lead Month Future
93.450
95.625
2.175
85.625
7.825
National Cash
92.39
89.74
2.65
89.15
3.24
Index
91.44
90.55
0.89
89.55
1.89
Cutout
100.29
99.22
1.07
97.29
3.00
IA/SMN Cash
92.95
90.80
2.15
89.53
3.42
IA/SMN Weights
291.20
290.90
0.30
289.60
1.60
Slaughter
2,532,000
2,488,000
44,000
2,501,000
31,000
Cattle Fundamentals
Current
One Week Ago
Change
One Year Ago
Change
North Cash
234-236
240.10
4-5 Lower
205.83
29.17
South Cash
235-236
239.64
3-5 Lower
202.61
32.89
North Steer Basis
4.50
2.00
2.50
2.53
1.97
Choice Boxes
397.25
387.07
10.18
319.69
77.56
Select Boxes
390.86
380.07
10.79
307.47
83.39
Spread
6.39
7.00
0.61
12.22
5.83
Carcass Weights
896
895
1
870
26
Slaughter
525,000
521,000
4,000
586,280
61,280
FC Index
358.35
367.32
8.97
281.25
77.10
Cash Cattle Markets
Region
This Week
Last Week
Last Year
TX/OK/NM
235-236
$239.02
$202.67
KS
235-236
$239.64
$202.61
NE
234-236
$240.10
$205.83
IA/MN
234-236
$240.00
$205.86
CFTC Disaggregated COT Report
As of: 3/10/2026
Commodity
Current Managed Money
Change
Current Producer/Commercial
Change
Total OI
Total OI Change
Live Cattle
109,032
5,487
-152,553
7,520
332,930
131
Feeder Cattle
18,070
114
-9,471
480
74,588
1,130
Lean Hogs
127,704
3,668
-185,920
965
370,742
209
Corn
193,271
140,297
-477,414
143,803
1,798,418
28,874
Soybeans
222,107
23,205
-287,600
7,999
1,042,205
9,786
Live Cattle Markets
April Live Cattle set the weekly low at the open on Monday. Support is at the 200-day MA of 229.325 and then 227.325. Resistance is at 233.675 followed by the 20-day MA of 236.625.
Feeder Cattle Markets
April Feeder Cattle posted new lows for the move this week. Support is at the 100-day MA of 342.725 followed by 339.800. Resistance is at 348.075 and then 351.625.
Lean Hogs Markets
April Lean Hogs finished lower each of the past three days. Support is at 93.100 and then 91.100. Resistance is at the 20-day MA of 94.700 followed by 96.625.
Corn Markets
May Corn futures posted new highs for the move this week. Resistance is at 469 1/2 and then 476. Support is at the 20-day MA of 447 1/2 and then 445 1/2.
This material should be construed as the solicitation of an account, order, and/or services provided by Producers Commodities LLC, NFA ID: 0355787 and represents the opinions and viewpoints of the author. It does not constitute an individualized recommendation or take into account the particular trading objectives, financial situations, or needs of individual customers. Additionally, this material should not be construed as research material. The trading of derivatives such as futures and futures options may not be suitable for all investors. Derivatives trading involves substantial risk of loss, and you should fully understand the risks prior to trading. Past results are not necessarily indicative of future results. Producers Commodities LLC is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but its accuracy, timeliness, and/or completeness cannot be guaranteed. Contact designated personnel from Producers Commodities LLC for specific trading advice to meet your trading preferences or goals.
Producers Livestock offers livestock sourcing and marketing, commodities trading and hedging and loans and credit facilities to farmers and processors in the Midwestern US and Central Plains.
3/13/2026 Market Commentary
Live Cattle: Live Cattle futures posted their weekly lows near the open on Monday and posted new highs for the week today, but could not hold all of those gains throughout the day. Continued fears about the war in the Middle East along with inflation hurting beef demand has caused the futures market to work lower the past two weeks. Last Friday, the workers union for the JBS plant in Greeley, Colorado announced they would be going on strike March 16. JBS announced they would not kill this week in order to fabricate the meat on hand as well as clean out coolers. Despite the Greeley plant being down this week, total estimated slaughter was up 4,000 head on the week to 525,000. Boxed beef was sharply higher this week but saw limited gains since Tuesday. This morning, choice was quoted at $397.25 which is up $10.18 on the week while select is at $390.86, up $10.79 since last Friday. Cash trade in all regions was lower this week with the North trading at 234-235 and the South trading at 234-236. The futures market continues to keep a close eye on the equity and crude oil markets, and has traded in tandem all week. This week’s CFTC Report showed the managed money as sellers of 5,487 contracts for the week ending on Tuesday. Their net long position is now 109,032 contracts and back near the low end of the last 24 months.
Feeder Cattle: Feeder Cattle futures finished the week mixed as the nearby contracts try to stay in line with the cash markets. The futures started the day sharply higher but faded throughout most of the day and pressed to the daily lows late in the day as traders squared up positions heading into the weekend. The CME Feeder Cattle index was quoted lower for the fifteenth day in a row today and is currently at $358.35, down $2.62 on the day and is $8.97 lower on the week. The higher Corn marker has hampered Feeder Cattle sales along with the lower futures price for Live Cattle. The March contract will expire on March 26 and is currently at an $8.87 discount to the CME Feeder Cattle index. The USDA will release their monthly Cattle on Feed Report next Friday and show placement numbers for the month of February. The continued closure of the Mexican border creates tighter numbers of Feeder Cattle, especially for the Southern feeding region.
Lean Hogs: Lean Hogs finished the week lower and settled below the 20-day MA for the first time in nearly a month. The futures market fell victim to the negative outside influences while the cash markets work higher. The national cash market was quoted $2.65 higher yesterday at $92.39 and the Iowa/Southern Minnesota average was quoted at $92.95, up $2.15. The pork cutout rose above the $100 level again yesterday after falling back below for two days. Yesterday, the pork cutout was $1.88 higher at $100.29 and is the second highest price in the last two months. The drop in the futures has created a poor technical picture as traders have began to liquidate their long position. Today’s CFTC Report showed the funds as buyers of 3,668 contracts through Tuesday. The most active June contract lost $3.300 during the final three days of the week following the end of the data for this report.
Corn: Corn futures finished higher each of the final three days this week, but the nearby May contract finished 8 3/4 cents off of the highs posted on Sunday night. Most of the fundamental news has been forgotten this week as traders continue to price in the increased cost of crude oil and fuel in general, as well as using the grains as an inflation hedge. Export sales that were released yesterday were in the upper end of the range from past weeks. Japan, Mexico, and South Korea remain as the top destinations for U.S. Corn. Currently, the U.S. is 4% ahead of pace needed to meet the USDA export goal. The main focus this week, and will remain the focus for the foreseeable future, is the crude oil market and the war in Iran. This week’s CFTC Report showed the funds as massive buyers of the corn market. For the week, they bought 140,297 contracts, increasing their long position to 193,271 contracts. The producer/merchant sector were sellers of 143,803 contracts this week indicating large farmer selling took place.
Closing Prices
Dates to Remember
March 20- Cattle on Feed Report
March 26- March Feeder Cattle Expiration
March 26- Hogs and Pigs Report
March 31- Prospective Planting
Hog Fundamentals
Cattle Fundamentals
Cash Cattle Markets
CFTC Disaggregated COT Report
As of: 3/10/2026
Live Cattle Markets
April Live Cattle set the weekly low at the open on Monday. Support is at the 200-day MA of 229.325 and then 227.325. Resistance is at 233.675 followed by the 20-day MA of 236.625.
Feeder Cattle Markets
April Feeder Cattle posted new lows for the move this week. Support is at the 100-day MA of 342.725 followed by 339.800. Resistance is at 348.075 and then 351.625.
Lean Hogs Markets
April Lean Hogs finished lower each of the past three days. Support is at 93.100 and then 91.100. Resistance is at the 20-day MA of 94.700 followed by 96.625.
Corn Markets
May Corn futures posted new highs for the move this week. Resistance is at 469 1/2 and then 476. Support is at the 20-day MA of 447 1/2 and then 445 1/2.