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Market Updates

Market Closes - April 30, 2019
April 30, 2019
Market Closes - April 30, 2019

Today’s CBOT closes were much like Monday’s with corn finishing near steady and soybeans and wheat closing around 6 cents lower.  Cattle closed lower with the expiring April LC down $1.02. June LC dropped 0.55 to 114.25, or a $9.50 discount to the April. Lean Hog futures closed lower on weaker pork values and continued selling by the spec longs.

Market Closes - April 29, 2019
April 29, 2019
Market Closes - April 29, 2019

Another bad day at the CME left futures at/near the day’s lows with soybeans, soybean meal and wheat futures hitting new contract lows.  Beyond the nearby April LC contract, cattle futures closed lower after testing the positive side of unchanged.  Lean Hog futures closed moderately lower as the selloff which started a week ago continued.

Market Closes - April 25, 2019
April 25, 2019
Market Closes - April 25, 2019

CBOT futures closed mostly higher after trading to new lows. The reversal-type action was more impressive in corn. Cattle futures closed sharply lower on follow-through selling (funds liquidating) after prices fell below key technical support levels on Wednesday. Lean Hog futures also dropped sharply with the June-December LH contracts locking limit-down ($3.00/cwt).

Market Closes - April 24, 2019
April 24, 2019
Market Closes - April 24, 2019

CBOT futures mostly closed lower as the spec funds keep selling the market with bearish technicals (charts) and fundamentals on their side. The U.S. Dollar hit a 2-year high.  Cattle futures closed sharply lower today on long liquidation as futures broke below technical moving-average support. 

Market Closes - April 22, 2019
April 22, 2019
Market Closes - April 22, 2019

CBOT futures closed lower and near the day’s lows on fund selling and a lack of positive fundamentals. U.S. corn planting progress is 6 percent, compared to 5 percent a year ago, and the 5-year average of 12 percent.  Cattle futures closed lower following Thursday’s negative Cattle on Feed Report.

Market Closes - April 18, 2019
April 18, 2019
Market Closes - April 18, 2019

Going into the 3-day Easter Weekend, CBOT futures closed narrowly mixed, in most cases. There’s little new for traders to act on and the spec funds already have large short positions in place. Cattle futures closed mostly higher and near the day’s highs. Lean Hog futures closed mixed with the nearby May and June LH contracts posting nice gains

Market Closes - April 17, 2019
April 17, 2019
Market Closes - April 17, 2019

Soybean, meal and soyoil futures all lost about one percent at the close. These contracts closed at/near the day’s lows.  Cattle futures closed slightly lower nearby and posted small gains in August-forward contracts. Boxed beef values were mixed. Lean Hog futures closed mixed with losses through August and dollar-plus gains in the December 2019 and beyond contracts.

Market Closes - April 15, 2019
April 15, 2019
Market Closes - April 15, 2019

CBOT futures closed mixed. Corn and soybean futures closed slightly higher as traders wait for confirmation of a US/China trade deal. Cattle futures closed higher on stronger boxed beef values and Friday’s stronger cash cattle market.  Lean Hog futures closed higher with bigger gains in distant months. LH continue to be supported by pork values and ideas that China is buying large quantities of US pork.

Market Closes - April 4, 2019
April 4, 2019
Market Closes - April 4, 2019

Corn and soybean futures closed higher on fund buying, unfavorable weather forecasts and strong soybean export sales. Support also came from the President’s positive comments on the trade negotiations. Live and feeder cattle futures closed strongly higher. Beyond the soon-to-expire April LH contract, LH futures closed sharply higher.

Market Closes - March 21, 2019
March 22, 2019
Market Closes - March 21, 2019

Without any real fundamental support, CBOT futures closed mostly higher and near the day’s highs.  Live Cattle posted moderate gains with Feeder Cattle rallying stronger. These markets continue to be supported by bad feedlot conditions, weather-related death losses, strong beef demand from the financially-healthy consumer and soaring Lean Hog futures.