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Market Updates

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.

Market Closes - April 11, 2017
April 12, 2017
Market Closes - April 11, 2017

CBOT futures closed slightly lower to higher on a volatile day of trading caused in part by the USDA WASDE report at 11 am CDT.  The report contained somewhat bearish data in higher world carryout stocks number.  Cattle futures closed strongly higher for the fourth straight day. The nearby April LC and FC contracts traded to new highs.

Market Closes - April 6, 2017
April 6, 2017
Market Closes - April 6, 2017

CBOT futures closed lower on across-the-board fund selling – adding to their short positions. With large supplies available, there’s nothing to get buyers excited.   Cattle futures closed higher in follow-through strength to yesterday’s market turnaround.  Lean Hog futures opened close to unchanged but turned higher mid-morning and kept rallying into the close (except for the nearby April LH).

Market Closes - April 4, 2017
April 4, 2017
Market Closes - April 4, 2017

CBOT futures closed steady to lower as fundamentals and money flow weighed on the market. After two days of much higher corn prices, corn closed moderately lower and near the day’s lows.  After yesterday’s brief respite, cattle futures took another leg down to new lows.

Market Closes - April 3, 2017
April 3, 2017
Market Closes - April 3, 2017

CBOT futures closed mixed with prices continuing to react to Friday’s USDA reports on grain stocks and prospective plantings.  The reports were generally negative for soybeans and positive for corn.  Cattle futures closed lower with traders believing the cash market will continue to move lower; this was supported by a weaker boxed beef market.