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Market Updates

Market Closes - March 30, 2020
March 30, 2020
Market Closes - March 30, 2020

CBOT futures closed mostly steady to lower. The sharp fall in crude oil futures and the continuing shrinking of the ethanol industry weighed on both corn and soybean futures. Live cattle futures closed narrowly mixed except for the 2% loss in the nearby April LC. Lean hog futures closed down the expanded limit of $4.50/cwt. 

Market Closes - March 26, 2020
March 26, 2020
Market Closes - March 26, 2020

Again today, CBOT fut ures closed widely mixed with corn and soybeans near steady, while wheat contracts ended significantly lower. Cattle futures closed sharply lower with some live cattle contracts down the $3.00 limit (will be $4.50 tomorrow). Lean Hog futures also closed sharply lower to as much as limit down.

Market Closes - March 25, 2020
March 25, 2020
Market Closes - March 25, 2020

CBOT futures closed widely mixed with some interesting price action. Wheat was the upside leader as the world sources wheat to build flour inventories. After posting limit-up days on Monday and Tuesday, live cattle and feeder cattle futures closed mostly lower except for the nearby contracts. Lean Hog futures closed moderately lower, pressured by lower pork cutout values yesterday and again today.

Market Closes - March 24, 2020
March 24, 2020
Market Closes - March 24, 2020

CBOT futures closed steady to slightly higher today after Monday’s strong market.For the second day in a row, cattle futures closed up the daily limit (which was expanded for today’s trade and will be at these limits again tomorrow). Lean Hog futures closed strongly higher, rising for the sixth straight day. 

Market Closes - March 23, 2020
March 23, 2020
Market Closes - March 23, 2020

CBOT futures closed steady in corn to sharply higher in wheat and the soy complex.  Live cattle and feeder cattle futures opened up the daily limit and did not trade into the close.  Lean hog futures also closed strongly higher to limit-up. This 5-day rally in April LH has brought prices near the March high of $66.37. 

Market Closes - March 19, 2020
March 19, 2020
Market Closes - March 19, 2020

CBOT futures closed strongly higher with wheat leading the way up. Corn reversed its recent downward trend and closed 5-10 higher. Live and Feeder cattle futures closed limit up on continued strong consumer demand for beef to cook and freeze at home. Lean Hog futures rallied strongly, led by the nearby April LH contract.

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.