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Market Updates

Market Closes - July 19, 2017
July 19, 2017
Market Closes - July 19, 2017

Corn and soybean futures closed moderately higher, but around a nickel below the day’s highs, on traders’ concern for hot, dry weather in large parts of the Corn Belt.   Despite news of an atypical BSE diagnosis in an Alabama beef cow, cattle futures closed sharply higher today. Live Cattle opened near steady while Feeder Cattle opened $1-2 lower.

Market Closes - July 18, 2017
July 18, 2017
Market Closes - July 18, 2017

CBOT futures closed mostly higher but near the lows and far below the day’s highs set overnight or very early today.  The strength was based on Monday’s crop report that showed about a 1 point drop in conditions.   Cattle futures opened lower and moved to the day’s lows within the first 90 minutes of trading.

Market Closes - June 19, 2017
June 19, 2017
Market Closes - June 19, 2017

CBOT futures closed mixed in a fairly volatile trading day.  When markets opened Sunday evening, futures were pressured by recent rainfall in the Corn Belt.  Live Cattle and Feeder Cattle futures closed sharply lower after opening steady/higher this morning.  Live Cattle have been under selling pressure for the last 10 days as traders’ attitudes have been more bearish as the cash cattle market; last week’s average cash trade was $130.23.

Market Closes - June 15, 2017
June 15, 2017
Market Closes - June 15, 2017

CBOT futures traded fairly wide ranges today and closed at/near the day’s highs.  The spec funds were buyers, especially in the wheat market which had the best gains at the CBOT.  Cattle futures closed mixed with the nearby June LC contract down a sharp $2.00 on much lower cash trade this week ($128 in KS) and a weaker boxed beef market.

Market Closes - June 13, 2017
June 13, 2017
Market Closes - June 13, 2017

Yesterday’s lower-than-expected condition ratings for the Spring Wheat crop led to sharply higher wheat prices, especially at the MGEX exchange.  Corn and soybean futures rebounded from Monday’s losses with support coming from the wheat markets and some deterioration in rain forecast for the western Corn Belt.  Cattle futures opened steady to higher but was headed lower by mid to late morning.

Market Closes - June 12, 2017
June 12, 2017
Market Closes - June 12, 2017

Both grains and livestock futures fell hard today.  CBOT was pressured by increased chances of rain in key growing areas.  Cattle dropped to/near the daily limit as steady markets turned lower and then broke below key chart support areas, accelerating the selling. 

Market Closes - June 1, 2017
June 1, 2017
Market Closes - June 1, 2017

CBOT futures closed steady to lower after trading both sides of unchanged.  Chicago/KC wheat closed well off the day’s lows, supported by a big rally in the MGEX wheat contract.  Both Live Cattle and Feeder Cattle futures closed sharply higher with some contracts locked up the daily trade limit.  Prices were supported by sharply higher gains in the cash market where $4-5/cwt gains were seen.

Market Closes - May 30, 2017
May 30, 2017
Market Closes - May 30, 2017

CBOT futures closed 1-2 percent lower with corn and soybean futures settling near the day’s lows. Traders credited drier weather for the weakness.  Beyond the nearby June Live Cattle contract, cattle futures closed higher with big gains in Feeders.

Market Closes - May 25, 2017
May 25, 2017
Market Closes - May 25, 2017

CBOT futures closed little changed in corn and wheat to one percent lower in soybeans. Unfortunately, all major contracts closed near the day’s lows.  Cattle futures closed strongly higher and near the day’s highs; this followed similarly-sized losses on Wednesday.  Lean Hog futures closed moderately higher with the June LH contract trading to a new contract high and close. Futures started the day weaker, but found support from a higher cash hog market.

Market Closes - May 24, 2017
May 24, 2017
Market Closes - May 24, 2017

CBOT futures closed steady to slightly higher with corn and wheat futures ending high range.  Tonight’s 6-10 day and 8-14 day outlooks show the Corn Belt down through Texas will experience on average below to much-below normal temperatures. Cattle futures closed lower, adding to Tuesday’s losses.