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Market Updates

Market Closes - June 18, 2019
June 18, 2019
Market Closes - June 18, 2019

CBOT futures closed mostly lower to near steady despite the friendly news that President Trump and China’s Xi will have an “extended” meeting during the G-20 (opportunity to advance trade negotiation). Cattle futures closed slightly higher as weak beef values and a slow cash market weigh. Lean Hog futures closed mixed with the Jly LH down 2 percent.

Market Closes - June 17, 2019
June 17, 2019
Market Closes - June 17, 2019

CBOT futures closed mostly higher, but only soybeans and soybean oil closed strongly (near the day’s highs). The overnight rally failed in corn and wheat. Cattle futures closed higher in apparent short-covering after steady selling hit market last week. Lean Hog futures closed higher on short-covering and bargain hunting following Friday’s sharp drop.

Market Closes - June 13, 2019
June 13, 2019
Market Closes - June 13, 2019

CBOT futures closed higher with corn taking the lead back from soybeans. With the rest of June looking wetter and cooler than normal, traders are more nervous about production potential this year. Cattle futures lost ground again today, especially the feeder futures which were also weighed down by the big increase in corn futures.

Market Closes - June 12, 2019
June 12, 2019
Market Closes - June 12, 2019

After trading generally sideways overnight, CBOT futures rallied soon after markets re-opened at 830 am CDT, and closed steady to sharply higher, led by the soy complex. After opening a bit higher, cattle futures sold off and closed moderately lower.  Lean Hog futures closed lower on weaker pork values and continued uncertainty about US/China trade relations.

Market Closes - June 10, 2019
June 10, 2019
Market Closes - June 10, 2019

CBOT futures closed steady to higher after starting out on the negative side. Early selling came from Friday’s bearish price action. Cattle futures closed sharply higher today, erasing last Friday’s losses and then some. The weekend settlement of the US/Mexico tariff threat seemed to bring the buyers into the market.  Lean Hog futures closed higher with big gains beyond the nearby June LH contract.

Market Closes - May 7, 2019
May 7, 2019
Market Closes - May 7, 2019

he major CBOT contracts managed steady to slightly higher closes as traders recovered from Monday’s sharp losses caused by the US/China tariff squabble.  Cattle futures closed higher despite a weaker boxed beef market. Except for the June and July contracts, Lean Hogs closed moderately to strongly higher.

Market Closes - May 6, 2019
May 6, 2019
Market Closes - May 6, 2019

CBOT futures were hit hard on Sunday night and again early this morning before the break in trading at 7:45 am CT. The huge selloff hit commodity futures as well as US equity markets. Cattle futures closed significantly lower but well off the day’s lows which were set soon after the 8:30 am opening bell.  Lean Hog futures closed limit down in most contracts as the renewed tariff threats issued by President Trump squashed optimism of increased pork export sales in the near future.

Market Closes - May 2, 2019
May 2, 2019
Market Closes - May 2, 2019

CBOT futures closed mixed again as corn and soybeans follow their recent trends. Corn has closed higher for six straight days, while soybeans have closed lower five straight days. Cattle futures closed lower with feeder cattle leading the way down. Lean Hog futures closed from $1.75 lower to $1.52 higher following yesterday’s limit UP move in nearby contracts.

Market Closes - May 1, 2019
May 1, 2019
Market Closes - May 1, 2019

CBOT futures closed mixed with corn leading the way higher on growing concerns that planting progress will be very slow in the Corn Belt due to wet soils and a cool and rainy forecast into mid-May (or longer). Cattle futures closed mostly lower, albeit by small amounts.  Lean Hog futures closed sharply higher to LIMIT UP. 

Market Closes - April 30, 2019
April 30, 2019
Market Closes - April 30, 2019

Today’s CBOT closes were much like Monday’s with corn finishing near steady and soybeans and wheat closing around 6 cents lower.  Cattle closed lower with the expiring April LC down $1.02. June LC dropped 0.55 to 114.25, or a $9.50 discount to the April. Lean Hog futures closed lower on weaker pork values and continued selling by the spec longs.