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Market Updates

Market Closes - November 12, 2018
November 12, 2018
Market Closes - November 12, 2018

Despite bearish outside markets (stronger US Dollar, weaker energy futures), corn and soybean futures closed just 1-3 cents up/down from Friday’s closes. Cattle futures closed lower except for the Dec and Feb LC contracts, despite the stronger US Dollar and the sharp drop in US stock prices. Lean Hog futures posted moderate to strong gains today on news that African Swine Fever was found in part of China’s hog feed supply.  

Market Closes - November 8, 2018
November 8, 2018
Market Closes - November 8, 2018

Despite the USDA WASDE report being generally bearish, CBOT futures managed to close near steady. USDA cut the US average yield for corn by 1.8 bu/acre to 178.9 bu/acre, and soybeans by 1.0 bu/acre to 52.1 bu/acre. The cut in US production was bigger than traders expected. Cattle futures closed slightly higher despite a weak boxed beef market. Crude Oil is in a bear market as U.S. production hit a new record high of 11.6 million barrels/day last week.

Market Closes - November 7, 2018
November 7, 2018
Market Closes - November 7, 2018

CBOT futures closed mostly lower as traders positioned themselves for tomorrow’s latest crop production estimates and US/World supply-demand estimates. Traders on average expect USDA to lower corn and soybean yield just a touch.  Live cattle futures were slightly lower beyond the nearby December LC contract which gained 67 cents.

Market Closes - November 6, 2018
November 6, 2018
Market Closes - November 6, 2018

CBOT futures closed mixed with 0-2 cent losses in corn and soybeans and 3-7 cent gains in wheat contracts. Traders are generally waiting on the election results and the updated supply-demand estimates coming Thursday.  Cattle futures closed narrowly mixed, following Monday’s sharp losses. Support came from short-covering and strength in boxed beef.

Market Closes - November 5, 2018
November 5, 2018
Market Closes - November 5, 2018

CBOT futures closed mixed with minimal price changes. Soybean futures are consolidating the big gains posted Thursday from signs that China may be more open to trade talks. Traders are generally waiting to see how tomorrow’s election turns out and to see the USDA supply-demand updates midday Thursday.

Market Closes - September 17, 2018
September 17, 2018
Market Closes - September 17, 2018

CBOT futures closed lower under pressure from harvest, rains in South America, and ongoing trade tensions with China.  Cattle futures closed narrowly mixed to follow up on Friday’s huge gains. Last week’s cash cattle trade up $3.00 versus the previous week.

Market Closes - September 4, 2018
September 4, 2018
Market Closes - September 4, 2018

CBOT futures closed mixed with wheat finishing sharply lower, but well off the day’s lows.  Live Cattle futures closed modestly higher on renewed optimism for the cash market amid ideas beef consumption was strong over Labor Day weekend. Lean Hog futures closed higher with support from a stronger pork market and optimism for cash hog prices.

Market Closes - August 30, 2018
August 30, 2018
Market Closes - August 30, 2018

CBOT futures closed steady to lower with the settlements near the day’s lows. Corn and soybean futures are holding just above contract lows as harvest of a huge crop is getting started. Cattle futures closed higher on little market news. Lean Hog futures closed lower with a sharp drop in the October LH, despite stronger pork values.

Market Closes - August 29, 2018
August 29, 2018
Market Closes - August 29, 2018

CBOT futures closed steady to higher with wheat futures posting 3-4 percent gains on talk that Russia may restrict wheat exports above a certain amount.  Live cattle futures closed higher and Feeder Cattle closed lower.  Lean Hog futures closed narrowly mixed on a lack of new fundamentals.

Market Closes - August 28, 2018
August 28, 2018
Market Closes - August 28, 2018

Given a lack of unfavorable weather to impact the final production, the CBOT closed sharply lower in corn and soybean futures.  The funds have the fundamentals and technicals going their way as we wind down August. Cattle futures opened higher, but quickly sold off to the day’s lows in the first hour of trading. A recovery the rest of the day pulled prices back to mid-range and modest losses. Lean Hog futures closed lower with the nearby October LH dropping nearly the daily $3.00 limit.