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Market Closes - March 18, 2020
March 18, 2020
Market Closes - March 18, 2020

?Like Tuesday, CBOT futures closed mixed and corn was the downside leader. Cattle futures ended mostly sharply lower, in great contrast to Tuesday huge gains. Beyond the nearly April Lean Hog contract, LH futures closed sharply lower.

Market Closes - March 17, 2020
March 17, 2020
Market Closes - March 17, 2020

CBOT futures closed widely mixed with corn and oats down sharply.  Cattle futures closed strongly higher to limit-up in front LC futures.  Lean Hog futures also rebounded from Monday’s sharp losses, some as much as the $4.50 limit to new contract lows.

Market Closes - March 11, 2020
March 11, 2020
Market Closes - March 11, 2020

Ag futures again came under pressure from a sharply lower equity market fueled by expanding COVID-19 cases, event cancellations and school closures. Cattle futures tried to build on Tuesday’s sharp rally, but succumbed to the downdraft in U.S. equities. Lean Hog futures held up much better than did cattle futures.

Market Closes - March 10, 2020
March 10, 2020
Market Closes - March 10, 2020

Today was a turnaround Tuesday as commodity and equity markets erased part of Monday’s losses. It appeared that commodity traders took a cue from the U.S. stock markets.  Cattle futures closed higher, but well of the day’s highs.  Lean Hog futures closed higher but well below the limit-up highs seen in the first hour of trading.

Market Closes - March 9, 2020
March 9, 2020
Market Closes - March 9, 2020

The markets closed sharply lower – hit by a combination of rising COVID-19 cases in America and elsewhere and a collapse in the crude oil future markets. Cattle futures close at or very close to down the daily trading limits -- $3.00 in Live Cattle and $4.50 in Feeder Cattle. Lean Hog futures also closed sharply lower although not limit-down. 

Market Closes - February 18, 2020
February 18, 2020
Market Closes - February 18, 2020

After the 3-day weekend, strong buying showed up for wheat and less so for corn futures.   Commodity markets were supported by news that China plans to waive tariffs on nearly 700 items beginning March 2 as they prepare to hopefully make purchases as directed by the US-China Trade deal. Cattle futures closed higher on narrow-range trade, but in the upper part of Friday’s wide range. Lean hog futures closed higher with nearby April LH up two percent.

Market Closes - February 4, 2020
February 4, 2020
Market Closes - February 4, 2020

CBOT futures closed mostly higher, albeit by only a few pennies. Today’s price increases appeared to be from corrective buying after the recent weakness. Live cattle closed slightly lower and feeder cattle closed higher. Lean Hog closed lower except in the nearby February LH contract.

Market Closes - January 30, 2020
January 30, 2020
Market Closes - January 30, 2020

CBOT futures closed mostly lower, led by big losses in the soy complex and less so in corn. Cattle futures closed little changed although prices were tested on both sides of unchanged. Lean Hog futures gapped down and closed limit-down $3.00 today on continued concerns about the coronavirus and large pork production (more hogs, heavier average weight).

Market Closes - January 28, 2020
January 28, 2020
Market Closes - January 28, 2020

CBOT futures closed mixed with corn rallying after an overnight move lower. Markets have not seen any negative follow-through after Monday’s volatile trade related to the coronavirus spread. Cattle futures closed mostly lower, with LC ending near the day’s lows. Lean Hog futures closed higher on a corrective bounce from Monday’s sharp losses.

Market Closes - January 27, 2020
January 27, 2020
Market Closes - January 27, 2020

CBOT futures closed mostly lower but in most cases, well off the day’s lows. Along with financial markets, agricultural futures were pressured by the escalating concerns about the coronavirus that originated in China and has spread to the U.S. and many other countries. Livestock futures traders reacted more aggressively, leading to sharp losses in both cattle and lean hog futures.