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Market Updates

Market Closes - May 16, 2018
May 16, 2018
Market Closes - May 16, 2018

Corn and soybean futures closed lower with the soy complex leading the way down. Corn and soybeans tried to move higher when markets reopened at 830 am CT, but heavy selling hit the market right away.  Cattle futures closed lower for the third straight day as cash feedlot prices soften, as did boxed beef prices today.

Market Closes - May 15, 2018
May 15, 2018
Market Closes - May 15, 2018

CBOT futures recovered from early morning losses to post mostly higher closes. The positive closes resulted from sharp gains in the last hour of trading. With follow-through selling from Monday’s sharp losses, cattle futures closed sharply lower. Two-day losses total $4-$5/cwt. US Treasury yields rose sharply today, which led to a marked rise in the US Dollar Index. 

Market Closes - May 14, 2018
May 14, 2018
Market Closes - May 14, 2018

CBOT futures closed mixed after spending the overnight hours lower. However, as the market opened at 830 am CT, CBOT futures rallied sharply into the 11 am hour.  Cattle futures gapped down on the open and closed sharply lower with the nearby June LC contract settling down the daily $3.00/cwt limit. The market was pressured by Friday’s disappointing cash trade.

Market Closes - May 10, 2018
May 10, 2018
Market Closes - May 10, 2018

CBOT futures closed mixed following the midday USDA report which updated their supply/demand estimates for 17/18 and 18/19. Cattle futures closed higher and near the day’s highs, which were in the last half-hour of trading. June Live Cattle was very strong today, trading to a new high for this April-May rally and closing at its highest level since March 22.

Market Closes - May 9, 2018
May 9, 2018
Market Closes - May 9, 2018

CBOT futures tried to move higher early but closed steady to lower except for soybean oil. Futures generally traded similar to Tuesday’s market, stabilizing after Monday’s sharp price drop. Cattle futures moved higher after the opening but spent the rest of the day working lower. Lean Hog futures closed mixed with weaker cash hog prices and a bounce in the pork cutout.

Market Closes - May 1, 2018
May 1, 2018
Market Closes - May 1, 2018

After trading steady to lower overnight, futures moved sharply higher when trading reopened at 830 am CT and closed near the day’s highs. CBOT futures rallied despite a big .7% gain in the US Dollar Index and a sharp drop in energy futures.  Live Cattle futures opened a little higher but quickly headed lower and made the day’s lows by 10:30 am.

Market Closes - April 30, 2018
April 30, 2018
Market Closes - April 30, 2018

CBOT futures closed widely mixed with Chicago Wheat soaring and old-crop soybeans sliding lower, after trading higher Sunday night.  Cattle futures closed lower and near the day’s lows. Cattle gapped higher on the open, supported by Friday’s jump in cash cattle prices ($124 – 126).

Market Closes - April 26, 2018
April 26, 2018
Market Closes - April 26, 2018

CBOT futures closed steady to lower. Overnight strength gave way after USDA released its Weekly Export Sales report which was disappointing for corn and soybeans.  Beyond the nearby April contracts, cattle futures closed lower and near the day’s lows.

Market Closes - April 25, 2018
April 25, 2018
Market Closes - April 25, 2018

CBOT futures closed higher with KC/Chicago wheat leading the way by adding to Tuesday’s big gains.  Corn gained 5-6 cents/bushel on spillover from the wheat market and from fund buying.  Cattle futures closed moderately higher but near the day’s highs. Market support came from the continued strength in boxed beef values.

Market Closes - April 24, 2018
April 24, 2018
Market Closes - April 24, 2018

CBOT futures closed mostly steady to higher. KC and Chicago Wheat futures led the market today.  Cattle futures moved higher in early morning trade but then weakened with prices turning negative in the last half hour of trading.