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Market Updates

Market Closes - December 12, 2018
December 12, 2018
Market Closes - December 12, 2018

CBOT futures closed steady in corn to mostly higher in the other contracts. Futures rallied early morning on ideas China was buying soybeans, but without confirmation, traders turned sellers.  Cattle futures closed higher and near the day’s highs. Lean Hog futures closed slightly higher as prices recovered from Tuesday’s sharp selloff.

Market Closes - December 10, 2018
December 10, 2018
Market Closes - December 10, 2018

CBOT futures closed mostly lower ahead of Tuesday’s USDA WASDE report. A strong dollar and sharply lower energy futures added to the pressure. Live Cattle closed mixed and Feeder Cattle ending higher. Live cattle were supported by firmer cash trade on Friday, trading around $119/cwt, and by higher boxed beef values last Friday and again today.

Market Closes - December 6, 2018
December 6, 2018
Market Closes - December 6, 2018

CBOT futures closed lower but mid to high range. On the positive side, the corn and soybean futures still have their chart UP GAPS open.  Cattle futures closed lower with Live Cattle settling mid-range.  Lean Hog futures also closed lower with the nearby December LH contract taking the biggest hit.

Market Closes - December 4, 2018
December 4, 2018
Market Closes - December 4, 2018

CBOT futures closed steady to mostly higher with corn and soybean futures ending near the day’s highs, AND maintaining the UP GAPS charted Monday based on the favorable US/China trade news.  Live Cattle futures closed strongly higher despite the sharp drop in the US equity markets tied to concerns the economy is weakening. 

Market Closes - November 26, 2018
November 26, 2018
Market Closes - November 26, 2018

CBOT futures closed widely mixed with the soy complex ending lower on continued concerns for US/China trade relations.  Cattle futures closed narrowly mixed. Choice beef closed up .60 to 214.45 and Select gained 1.28 to 199.79.

Market Closes - November 20, 2018
November 20, 2018
Market Closes - November 20, 2018

CBOT futures closed narrowly mixed despite the outside markets moving strongly against Ag futures. Equities and energy dropped sharply and the US Dollar Index gained .7%.  Cattle futures closed moderately lower after a higher opening quickly failed.  Lean Hog futures closed from sharply lower in nearby contracts to a little higher in the deferred contracts.

Market Closes - November 19, 2018
November 19, 2018
Market Closes - November 19, 2018

CBOT futures closed lower with soybean futures leading the way down. Markets were pressured by a negative outlook for US/China trade relations following rhetoric between VP Pence and a Chinese leader at a weekend summit. Cattle futures closed higher, supported by firmer boxed beef and the strong 2-day rally in Lean Hog futures. Lean Hog futures closed higher on follow-through buying after the $3.00 limit-UP move on Friday.

Market Closes - November 14, 2018
November 14, 2018
Market Closes - November 14, 2018

CBOT futures closed mixed with corn steady, wheat weaker and the soy complex higher.  Traders are reluctant to sell soybeans with a chance that the US and China will make some progress on trade heading into the G20 meeting at month’s end.  Cattle futures were weighed down by a weaker boxed beef market and a lack of cash cattle trade.

Market Closes - November 13, 2018
November 13, 2018
Market Closes - November 13, 2018

With a backdrop of negative crop fundamentals, today’s sharp drop in crude oil futures seemed to embolden the sellers at the CBOT. Early talk that the US and China officials were discussing trade negotiations didn’t hold the market up. Cattle futures closed higher and near the day’s highs on apparent short-covering.

Market Closes - November 12, 2018
November 12, 2018
Market Closes - November 12, 2018

Despite bearish outside markets (stronger US Dollar, weaker energy futures), corn and soybean futures closed just 1-3 cents up/down from Friday’s closes. Cattle futures closed lower except for the Dec and Feb LC contracts, despite the stronger US Dollar and the sharp drop in US stock prices. Lean Hog futures posted moderate to strong gains today on news that African Swine Fever was found in part of China’s hog feed supply.