Kentucky Farm Bureau

CBOT futures closed mixed with wheat finishing sharply lower, but well off the day’s lows.  Live Cattle futures closed modestly higher on renewed optimism for the cash market amid ideas beef consumption was strong over Labor Day weekend. Lean Hog futures closed higher with support from a stronger pork market and optimism for cash hog prices.

CBOT futures closed steady to lower with the settlements near the day’s lows. Corn and soybean futures are holding just above contract lows as harvest of a huge crop is getting started. Cattle futures closed higher on little market news. Lean Hog futures closed lower with a sharp drop in the October LH, despite stronger pork values.

CBOT futures closed steady to higher with wheat futures posting 3-4 percent gains on talk that Russia may restrict wheat exports above a certain amount.  Live cattle futures closed higher and Feeder Cattle closed lower.  Lean Hog futures closed narrowly mixed on a lack of new fundamentals.

Given a lack of unfavorable weather to impact the final production, the CBOT closed sharply lower in corn and soybean futures.  The funds have the fundamentals and technicals going their way as we wind down August. Cattle futures opened higher, but quickly sold off to the day’s lows in the first hour of trading. A recovery the rest of the day pulled prices back to mid-range and modest losses. Lean Hog futures closed lower with the nearby October LH dropping nearly the daily $3.00 limit.

CBOT futures closed lower and near the day’s lows, pressured by large yield estimates from a private crop tour and a lack of friendly market news. Cattle futures closed narrowly mixed and generally mid-range. Recent strength in boxed beef values is supporting Live Cattle.  

CBOT futures closed mostly steady, but wheat futures crashed. Corn and soybean futures were pressured by weekend rainfall. Cattle futures closed mostly lower despite a second straight day of stronger boxed beef values.  Lean Hog futures closed lower with the nearby October down a large 2.12/cwt, the result of profit-taking.  

CBOT futures closed mostly lower with wheat and soybean meal leading the way lower.  The major fundamental factors include large U.S. crops, foreign demand reduced by the tariff war, and a strong US Dollar weighing on exports. Cattle futures closed slightly higher and mid-range.

CBOT futures traded wide ranges today with the lows generally set overnight in following selling from Friday’s bearish USDA crop report.  Cattle futures closed lower.  LC and FC gapped down on the open and never traded on the positive side.  Lean Hog futures closed higher but way below the day’s highs.