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Market Updates

Market Closes - November 13, 2017
November 13, 2017
Market Closes - November 13, 2017

CBOT futures closed lower with the soy complex leading the market down. Soybeans ended down 12-13 cents and at the day’s lows. Soybeans were pressured by beneficial rainfall in South America and technical selling as important chart support failed – October lows and the 200-day moving averages.   After a roller-coaster day in prices, cattle futures closed little changed but on the negative side.

Market Closes - November 8, 2017
November 8, 2017
Market Closes - November 8, 2017

CBOT futures closed little changed except for MGEX spring wheat futures which rose 8-9 cents. The market has little to trade on before tomorrow’s USDA reports.   Cattle futures closed sharply lower after opening little changed.  Futures were pressured by slight weakness in mid-week cash trading.  Lean Hogs were pressured by weaker pork values and the sharp losses in cattle futures and by rising average hog weights that implies a backup in inventories.

Market Closes - November 7, 2017
November 7, 2017
Market Closes - November 7, 2017

CBOT futures closed narrowly mixed in quiet trade ahead of Thursday’s USDA reports. There was very little news in the market.  Cattle futures closed lower but well off the day’s lows.  Futures were pressured by Monday’s failure to move higher and the resulting sharp losses.  Lean Hog futures closed moderately lower on continued weakness in cash hog prices.

Market Closes - November 6, 2017
November 6, 2017
Market Closes - November 6, 2017

CBOT futures closed mostly higher except for corn ending steady.  Speculative funds hold large short positions, so Thursday’s USDA reports will be closely watched.  Cattle futures closed lower with the nearby Live Cattle contracts dropping the most on profit-taking after the market rose sharply last week on cash market strength.

Market Closes - October 31, 2017
October 31, 2017
Market Closes - October 31, 2017

CBOT futures closed steady in soybeans to lower in corn and wheat.  Cattle futures closed sharply higher and near the day’s highs. Futures were supported by the bullish momentum from yesterday’s big price gains and last Friday’s surge in cash fed cattle prices.  Lean Hog futures closed higher with the nearby December and February contracts soaring.

Market Closes - October 25, 2017
October 25, 2017
Market Closes - October 25, 2017

CBOT futures closed little changed but near the day’s lows. Futures moved higher overnight, but moved lower before mid-morning with soybean futures leading the market lower as it erased 8-cent gains.   Cattle futures closed mostly higher but the October and December Live Cattle contracts ended in the red and near the day’s lows.

Market Closes - October 24, 2017
October 24, 2017
Market Closes - October 24, 2017

CBOT futures closed mixed with little new information to drive the market.  Cattle futures rallied throughout the day and closed sharply higher and near the day’s highs. Prices were supported by a stronger boxed beef market and technical buying as futures moved above last week’s highs.

Market Closes - October 23, 2017
October 23, 2017
Market Closes - October 23, 2017

CBOT futures closed mostly higher, led by corn and wheat futures.  With US corn harvest at only 38%, or 21% behind average, will traders be willing to follow-through and buy more tomorrow.  Live Cattle futures opened sharply lower on Friday’s negative Cattle on Feed Report, but moved to the positive side by mid-morning.  Lean Hog futures were crushed by lower cash hog prices. 

Market Closes - October 12, 2017
October 12, 2017
Market Closes - October 12, 2017

CBOT futures closed mixed following today’s USDA crop production and supply-demand reports. The reports were bearish corn and wheat, but friendly to the soybean market.  ive cattle futures opened lower, tested this week’s highs and then sold off to close near the day’s lows. Lean Hog futures opened slightly higher but soon headed south for the rest of the day.

Market Closes - October 11, 2017
October 11, 2017
Market Closes - October 11, 2017

CBOT futures closed near steady to a few cents lower in narrow-range trading ahead of tomorrow’s USDA crop reports.  Cattle futures closed narrowly mixed on a lack of cash trade in the feedlot.  Lean Hog futures closed higher with bigger gains coming in the nearer contracts.