Friday’s weakness in CBOT futures is carrying over to today. Futures were lower overnight, rallied when the pit opened at 930 am CT, but have since weakened again. There just isn’t much bullish news to boost the market and recent losses have damaged some technicals on the charts. Some trading advisory firms advanced some sales recommendations Friday citing the short-term downside risk.

Cattle futures are mostly higher today recovering a small bit of last week’s losses. Friday’s cash cattle trade was just steady and boxed beef values weakened. The snowstorm in the Northeast should have trimmed some beef consumption so cutout values could languish.

Lean Hog futures are slightly higher as the cash market is at a premium to February futures which expire February 14.

Corn Mar +1 710; Jly -2 697; Dec -1 562

Bean Mar -17 1435; Jly -17 1409; Nov -13 1269   Meal Mar -8 415; Oct -5 351   Oil -27 5116

Wheat Mar -6 750; Jly -4 759   KC -3 797;  MGE -4 832

LC Feb +32 12677; Apr +15 13027; Oct +27 13057 FC Mar -50 14450; Apr -27 14792; Aug +45 15715 LH Feb +30 8675; Apr +50 8662; Jly +22 9432 Milk Feb -1 1723; Mar unch 1742

Oats -5 380 Rice -13 1621

 US$ steady

Dow -.1% SP -.1% NAS -.1% Tran -.2% VIX -.2% 13.00

WTI +.5% Brent -.5% Gas -.7% NG -1.1% HO -.3% Eth +.2%

Gold -1.1% Slvr -1.4%

5-yr +.008 0.846% 10yr +.009 1.959% 30yr +.001 3.164%