Kentucky Farm Bureau

Ahead of tomorrow’s midday signing of the US/China Phase 1 trade agreement, corn and soybean futures closed steady in narrow range trading and wheat continued to trend higher. Cattle futures closed little changed but remain not far from the contract highs.  Lean hog futures posted strong gains even as cash hog and pork values did not. 

CBOT futures closed mixed today. Corn closed higher and near the day’s highs in follow-through buying to Friday’s strong market. Cattle futures closed lower on last week’s disappointing cash steer trade at steady prices around $124/cwt. Lean Hog futures closed moderately lower and near chart support.

CBOT futures closed mixed as the overnight rally melted away in corn and soybean futures during the day. On the other hand, wheat futures rose higher during the day trade.  Cattle futures closed slightly higher and remain near the contract highs.  Lean Hog futures closed lower under pressure from LH futures premium to the cash market, which is weaker as well.

CBOT futures closed mixed with soybeans/meal up the most and wheat dropping a few cents.  Live cattle futures closed steady while feeders were down slightly. Lean Hog futures closed slightly higher except for February’s 42-cent loss. 

CBOT futures closed narrowly mixed with support from good weekly export sales reports this morning. Cattle futures ended little changed on the day.  Lean Hog futures closed slightly higher except for the nearby February LH contract gaining $1.07/cwt.

CBOT futures closed steady to lower as the latest trade deal-led rally stalls out. Live Cattle closed near steady while feeder cattle ended slightly lower. Lean hog futures ended narrowly mixed with mid-range closes. 

CBOT futures closed sharply higher as traders become  confident the US/China trade deal is for real this time. Cattle futures finished with losses after the market saw sharp gains on Friday. Lean Hog futures closed higher in follow-through buying to Friday’s rally on the US/China trade deal. 

A day after the WASDE failed to excite the market, CBOT futures closed lower and near the day’s lows. Cattle futures closed higher and near the day’s highs in both LC and FC.  Lean Hog futures finished narrowly mixed as pork values changed little today. The Federal Reserve left its interest rate target unchanged at 1.5-1.75%, as expected by the trade.