Kentucky Farm Bureau

CBOT futures closed mostly lower led by KC Wheat. Futures rallied in the 9:00 a.m. CT hour when crude oil futures soared.  Cattle futures gapped lower on the open and closed down the expanded limit of $4.50 in LC and $6.75 in FC.  Lean hog futures also gapped lower and closed down the daily limit of $4.50/cwt.

CBOT futures closed sharply lower and near the day’s lows. Futures were pressured by bearish outside markets (equities, energy) and aggressive selling by the speculative funds. Cattle futures closed down the daily price limit as boxed beef values continue to slide lower and cash cattle prices traded $112, down $8/cwt from last week.

CBOT futures closed mixed but mostly in the upper portion of the day’s trading ranges. Cattle futures posted strong gains today, following three bad days of price action. Lean Hog futures closed very widely mixed with the nearby April LH losing $1.75 after 3 previous days of limit-down action.

CBOT futures closed mostly steady to lower. The sharp fall in crude oil futures and the continuing shrinking of the ethanol industry weighed on both corn and soybean futures. Live cattle futures closed narrowly mixed except for the 2% loss in the nearby April LC. Lean hog futures closed down the expanded limit of $4.50/cwt. 

Again today, CBOT fut ures closed widely mixed with corn and soybeans near steady, while wheat contracts ended significantly lower. Cattle futures closed sharply lower with some live cattle contracts down the $3.00 limit (will be $4.50 tomorrow). Lean Hog futures also closed sharply lower to as much as limit down.

CBOT futures closed widely mixed with some interesting price action. Wheat was the upside leader as the world sources wheat to build flour inventories. After posting limit-up days on Monday and Tuesday, live cattle and feeder cattle futures closed mostly lower except for the nearby contracts. Lean Hog futures closed moderately lower, pressured by lower pork cutout values yesterday and again today.

CBOT futures closed steady to slightly higher today after Monday’s strong market.For the second day in a row, cattle futures closed up the daily limit (which was expanded for today’s trade and will be at these limits again tomorrow). Lean Hog futures closed strongly higher, rising for the sixth straight day. 

CBOT futures closed steady in corn to sharply higher in wheat and the soy complex.  Live cattle and feeder cattle futures opened up the daily limit and did not trade into the close.  Lean hog futures also closed strongly higher to limit-up. This 5-day rally in April LH has brought prices near the March high of $66.37.