Kentucky Farm Bureau

CBOT futures closes narrowly mixed except for a sharp rally in soybean oil futures for a second day.  Ahead of Friday’s Cattle on Feed Report, cattle futures closed higher and near the day’s highs. Beyond the February LH contract, lean hog futures closed higher with the June/July LH hitting new contract highs. 

Corn, wheat and soybean/meal futures posted sizable losses again today as prices further correct off contract highs. Cattle futures closed mixed with live cattle lower and feeders higher. Lean hog futures opened steady but rallied strongly to close much higher.  

CBOT futures closed mostly lower and near the day’s lows, with sharp losses in soybeans and soybean meal. Cattle futures closed mostly higher but well off the day’s highs that were set about an hour into trading. Lean hog futures opened near steady but quickly headed lower and finished near the day’s lows. 

CBOT futures resumed their strong rally, closing near the day’s highs and resulting in new contract high closes in corn, soybeans and wheat. CBOT futures resumed their strong rally, closing near the day’s highs and resulting in new contract high closes in corn, soybeans and wheat. Lean hog futures closed lower despite a strong pork market.

Corn, wheat, soybeans and soybean meal futures traded new contract highs during the overnight session, but closed far below those highs and near the day’s lows. Live cattle closed mixed and feeder futures made small gains. Lean hog futures closed mixed with nearby LH pressured by the February contract’s premium to the cash index.

CBOT futures closed sharply higher in response to the bullish USDA crop/S&D reports.  Cattle futures closed mixed in live cattle but sharply lower in feeder cattle due to the soaring corn price. Lean hog futures closed near steady in February LH and a dollar plus in deferred contracts. 

CBOT futures closed mostly lower with soybean meal being the exception with a contract high close up $7/ton and new contract high. Cattle futures mostly closed little changed with a downward bias, but nearby Live Cattle were pressured by last week’s steady-at-best live market ($110-112). Lean hog futures closed slightly higher except the February LH finished barely in the red.

Corn futures ended nearly unchanged but wheat and soybeans closed down mostly 4-6 cents/bushel. Cattle futures closed higher led by the feeder contracts due to the weaker CBOT. Lean hog futures closed higher except for the February contract dropping 65 cents.