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Market Updates

Market Closes - January 28, 2019
January 28, 2019
Market Closes - January 28, 2019

CBOT futures closed narrowly mixed. After trading higher overnight, futures were sold aggressively after opening at 830 am CT.  Market factors today included some improvement in South American rain prospects and the upcoming Wed-Thursday US/China trade meeting. Cattle futures closed slightly higher, despite last Friday’s lower boxed beef values and $1-2/cwt lower cash cattle prices.

Market Closes - January 24, 2019
January 24, 2019
Market Closes - January 24, 2019

CBOT futures closed narrowly mixed with little new fundamentals to trade on. Weighing on the market was a stronger US Dollar and a negative comment regarding a possible China trade deal from Commerce Secretary Ross. LC and FC futures closed higher except for Feb/Apr LC, and closed near the day’s highs.  

Market Closes - January 23, 2019
January 23, 2019
Market Closes - January 23, 2019

CBOT futures closed steady to higher with wheat posting the strongest percentage gain.  With USDA HQ closed, there’s a lack of data on supply/demand and on position sizes in futures (long/short).  Cattle futures closed higher with Feeder Cattle up sharply.  Lean Hog futures closed lower on weaker cash hog and pork values.

Market Closes - January 16, 2019
January 16, 2019
Market Closes - January 16, 2019

CBOT futures closed steady to 3 cents higher, with mid-range or below closes. Today’s action eased the negative tone of Tuesday’s big losses.  Cattle futures closed higher except for nearby Feeder Cattle. February and April LC made new contract highs for the second day in a row.  

Market Closes - January 15, 2019
January 15, 2019
Market Closes - January 15, 2019

CBOT futures traded higher Monday evening and overnight, but the good times ended as traders woke up this morning.  Selling in corn and soybeans continued right into the final minutes, putting the settlement prices at/near the day’s lows. Cattle futures closed narrowly mixed, except for the strong gains in Feb and Apr Live Cattle, both of which moved to new contract highs.

Market Closes - January 14, 2019
January 14, 2019
Market Closes - January 14, 2019

After rallying for the first hour of trading (830 am opening), corn and soybean futures sold off through midday. This resulted in mostly lower closing prices which were at/near the day’s lows.  Except for the February and April LC contracts, LC and FC futures closed lower with the nearby FC taking the biggest hit. Lean Hog futures closed moderately lower although the pork cutout was up over $2.00 in the morning. 

Market Closes - January 10, 2019
January 10, 2019
Market Closes - January 10, 2019

Corn, beans and wheat closed 1-2 pct lower and near the day’s lows. Futures were pressured by a lack of details/confirmation on China’s plan to purchase U.S. commodities.  Cattle futures closed mixed in narrow price ranges. There was a lack of cash trade with the packer bids and feedlot offers far apart.  Lean Hog futures also closed mixed with the nearby contracts higher.

Market Closes - January 9, 2019
January 9, 2019
Market Closes - January 9, 2019

CBOT futures closed higher with corn and soybeans near the day’s highs.  Futures were supported by a weaker US Dollar, some type of agreement with China to make U.S. purchases (no specifics announced), and unfavorable weather in South America.  Cattle futures closed slightly lower, as traders paused following Tuesday’s sharp gains.

Market Closes - January 7, 2019
January 7, 2019
Market Closes - January 7, 2019

The grain and soy futures closed narrowly mixed on a lack of fundamental news.   Cattle futures closed moderately higher after opening this morning slightly lower.  Lean Hog futures closed slightly lower through the August LH contract.

Market Closes - January 3, 2019
January 3, 2019
Market Closes - January 3, 2019

CBOT futures closed a little higher with the MGE spring wheat contract leading the way. Most contracts opened Wednesday evening about even, but futures rallied at various times in today’s trading. Cattle futures closed lower, making for a 3-day decline which started with the bearish price reversal on Monday.