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Market Updates

Market Closes - May 2, 2017
May 2, 2017
Market Closes - May 2, 2017

While CBOT futures traded higher overnight, markets sold off in the day session to close steady to mostly lower.  Cattle futures closed mostly higher with the nearby June LC contract trading up the daily $3.00 limit much of the day and closed pennies off the limit.  Lean Hog futures rallied on a stronger cash hog market and higher pork values.

Market Closes - May 1, 2017
May 1, 2017
Market Closes - May 1, 2017

Led by the KC wheat market, CBOT futures pushed sharply higher with gains magnified by heavy short-covering by the speculative crowd. The buying was spurred by weekend weather that ranged from heavy flooding to heavy snow and freezing temperatures.  Cattle futures closed mostly lower after opening higher at 830 am. However, cattle traders turned sellers when they saw the sustained rally in corn futures.

Market Closes - April 27, 2017
April 27, 2017
Market Closes - April 27, 2017

CBOT futures closed steady to higher with wheat performing the best.  Live and Feeder cattle futures closed up the daily limits, so tomorrow the daily limits will be $4.50 in LC and $6.75 in FC.  Futures soared on a stronger cash cattle market and additional buying spurred on by technical considerations.

Market Closes - April 26, 2017
April 26, 2017
Market Closes - April 26, 2017

CBOT futures closed mostly lower to steady. Corn and soybean futures were pressured late morning by updated weather forecasts that lessened traders concern about planting delays.  Cattle futures soared today on a stronger cash market at the Fed Cattle Exchange supporting ideas that general trade will be up nicely from last week.

Market Closes - April 25, 2017
April 25, 2017
Market Closes - April 25, 2017

Corn and wheat futures closed sharply higher on fund short-covering. Support came from concern that wet soils will delay corn planting and maybe some spring wheat seeding.  Cattle futures closed higher which mostly erased Monday’s losses. Support came from Monday’s friendly Cold Storage report, futures’ discount to cash price and firmer boxed beef values.

Market Closes - April 24, 2017
April 24, 2017
Market Closes - April 24, 2017

CBOT futures closed very mixed with soybean meal the big winner; meal’s gains offset weaker soybean oil to lift soybean futures one percent.  Cattle futures closed strongly lower but well off the day’s lows. Futures were pressured by Friday’s Cattle on Feed Report that reported March Placements higher than expected.

Market Closes - April 19, 2017
April 19, 2017
Market Closes - April 19, 2017

CBOT futures closed mixed with closing prices near unchanged. Futures were up and down twice today, testing the early highs and lows.   Cattle futures closed higher with the April LC contract leading the way – hitting new highs that are $30/cwt above the October lows.  April LC is chasing the cash market higher as some cattle traded $130-132 in S. Plains

Market Closes - April 18, 2017
April 18, 2017
Market Closes - April 18, 2017

CBOT corn and soybeans closed moderately lower under pressure from heavy spec fund selling – who are adding to their short positions. Wheat was able to separate itself from the corn/bean downdraft due to concerns for the spring wheat crop.  Cattle futures closed mixed with Live Cattle up and Feeders lower.

Market Closes - April 17, 2017
April 17, 2017
Market Closes - April 17, 2017

After the 3-day Easter weekend, CBOT futures closed steady to mostly lower with KC and Chicago wheat leading the way down. Wheat was pressured by improving soil moisture conditions.  Cattle futures opened a little higher and gained throughout the day to close in the upper end of the range. Today’s strength was based on Friday’s $2.00/cwt pop in cash cattle prices while the CME LC/FC futures were closed for Easter.

Market Closes - April 12, 2017
April 12, 2017
Market Closes - April 12, 2017

CBOT futures closed steady to mostly higher, led by the soybean meal market.  Most contracts established their daily high about 12:45 pm CDT and then sold off into the closing bell, resulting in closes 2-3 cents off the highs.   Cattle futures closed higher but well off the day’s highs which were set by 10 am. Cattle futures hit new highs for this latest rally.  Lean Hog futures closed lower on pressure from weaker cash hog prices.