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Market Closes - May 6, 2019
May 6, 2019
Market Closes - May 6, 2019

CBOT futures were hit hard on Sunday night and again early this morning before the break in trading at 7:45 am CT. The huge selloff hit commodity futures as well as US equity markets. Cattle futures closed significantly lower but well off the day’s lows which were set soon after the 8:30 am opening bell.  Lean Hog futures closed limit down in most contracts as the renewed tariff threats issued by President Trump squashed optimism of increased pork export sales in the near future.

Market Closes - May 2, 2019
May 2, 2019
Market Closes - May 2, 2019

CBOT futures closed mixed again as corn and soybeans follow their recent trends. Corn has closed higher for six straight days, while soybeans have closed lower five straight days. Cattle futures closed lower with feeder cattle leading the way down. Lean Hog futures closed from $1.75 lower to $1.52 higher following yesterday’s limit UP move in nearby contracts.

Market Closes - May 1, 2019
May 1, 2019
Market Closes - May 1, 2019

CBOT futures closed mixed with corn leading the way higher on growing concerns that planting progress will be very slow in the Corn Belt due to wet soils and a cool and rainy forecast into mid-May (or longer). Cattle futures closed mostly lower, albeit by small amounts.  Lean Hog futures closed sharply higher to LIMIT UP. 

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.