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Market Updates

Market Closes - February 22, 2017
February 22, 2017
Market Closes - February 22, 2017

Corn and soybean futures were little changed today on narrow trading ranges, while wheat gained mostly a nickel on short-covering tied to some weather concerns.  Live Cattle futures closed sharply higher on much stronger cash prices and boxed beef cutout values.  Lean Hog futures closed sharply lower with the nearby April LH contract performing the worst. LH futures were pressured by cash hog price weakness and lower pork cutouts that only worsened later in the day.

Market Closes - February 8, 2017
February 8, 2017
Market Closes - February 8, 2017

CBOT futures closed higher with the soy complex leading the way. Soybeans were supported by signs of export business and aggressive spec fund buying adding to an already large long position.  Cattle futures closed moderately lower (near the day’s lows) after opening the day near steady. Futures were pressured by recent weakness in boxed beef values and ideas that cash cattle prices will soften.

Market Closes - February 7, 2017
February 7, 2017
Market Closes - February 7, 2017

CBOT futures traded wide ranges today but closed strongly near the day’s highs.  Prices were supported by export demand for corn and soybeans and technical buying ahead of Thursday’s WASDE report. Cattle futures closed moderately higher with the nearby February LC contract performing the best. Following through on Monday’s strong market, Lean Hog futures gapped higher at the open and closed strongly higher on buying encouraged by a higher midday pork market and technical buying. 

Market Closes - February 6, 2017
February 6, 2017
Market Closes - February 6, 2017

CBOT futures closed mixed with corn and wheat futures closing near the day’s lows on late-day weakness. Soybean futures were supported by wet conditions in Argentina, strong soybean export inspections and China returning from holiday.  Cattle futures closed little changed on a lack of market news in cash cattle markets and from a relatively stable boxed beef market.  Lean Hog futures closed moderately higher on strength in cash hog prices and the pork cutout.

Market Closes - February 3, 2017
February 3, 2017
Market Closes - February 3, 2017

CBOT futures closed mostly lower with the largest loss in soybean oil. With soybean harvest advancing in South America and large crops expected, buying interest was reduced going into the 3-day weekend – Presidents Day on Monday. Cattle futures traded narrowly mixed with a weaker boxed beef market. Choice beef closed down 1.61 at 191.40 and Select lost .69 to 189.93.   

Market Closes - February 2, 2017
February 2, 2017
Market Closes - February 2, 2017

CBOT futures closed mostly little changed, but new-crop soybeans rallied into the closing “bell”. The morning Export Sales report was generally positive.  Cattle futures closed higher, finally interrupting the recent downtrend. However, futures remain below the very important chart gaps created Monday following Friday’s bearish Cattle on Feed Report.

Market Closes - February 1, 2017
February 1, 2017
Market Closes - February 1, 2017

After several days of weaker prices, CBOT futures rose strongly today, beginning after the 830 am CT open. Wheat and Corn futures outperformed soybeans. Overnight futures weakness with no follow-through selling combined with positive export news encouraged buying that was amplified by technical buying as prices rose.  Cattle futures traded both sides of unchanged with some trading ranges exceeding $2.00/cwt.  Lean Hog futures closed narrowly mixed. February LH were supported by higher cash hog prices, but the pork cutout was weaker.

Market Closes - January 31, 2017
January 31, 2017
Market Closes - January 31, 2017

CBOT futures closed mixed with corn and soybeans trading narrow ranges.  Today’s weaker US Dollar was the main supportive factor for commodities today. Cattle futures closed lower on follow-through selling from Monday’s gap-down price action and sharp losses. Selling was encouraged by weaker boxed beef values and concerns that cash cattle have peaked.  Lean Hog futures closed higher with the February LH contract up sharply on stronger cash hog prices and pork values.

Market Closes - January 30, 2017
January 30, 2017
Market Closes - January 30, 2017

The price board is very red tonight as most commodity prices closed lower with some sharply lower. Soy complex futures led the CBOT lower as the spec funds were reportedly huge sellers.  Cattle futures fell sharply in response to Friday afternoon’s bearish Cattle on Feed Report. It showed December Placements up a whopping 17.6% compared to a 8.8% expectation.

Market Closes - January 26, 2017
January 26, 2017
Market Closes - January 26, 2017

Except for wheat contracts, CBOT futures closed lower today with pressure stemming from a stronger US Dollar and a lack of bullish fundamentals. Soybean futures have closed lower 5 of the last 6 days, with March Soybeans 30 cents lower than the January 18th HIGH.  Cattle futures closed sharply lower, especially in Feeder Cattle, as traders reduced positions ahead of Friday’s Cattle on Feed Report and next week’s Cattle report which reports the annual inventory.