KFB Candid Conversation presents a discussion about the topical issues facing the agricultural industry and rural communities in a question and answer format. In this column, Kentucky Farm Bureau Second Vice President Sharon Furches discusses farming during the COVID-19 pandemic.
CBOT futures closed mostly lower led by KC Wheat. Futures rallied in the 9:00 a.m. CT hour when crude oil futures soared. Cattle futures gapped lower on the open and closed down the expanded limit of $4.50 in LC and $6.75 in FC. Lean hog futures also gapped lower and closed down the daily limit of $4.50/cwt.
CBOT futures closed sharply lower and near the day’s lows. Futures were pressured by bearish outside markets (equities, energy) and aggressive selling by the speculative funds. Cattle futures closed down the daily price limit as boxed beef values continue to slide lower and cash cattle prices traded $112, down $8/cwt from last week.
CBOT futures closed mixed but mostly in the upper portion of the day’s trading ranges. Cattle futures posted strong gains today, following three bad days of price action. Lean Hog futures closed very widely mixed with the nearby April LH losing $1.75 after 3 previous days of limit-down action.
CBOT futures closed mostly steady to lower. The sharp fall in crude oil futures and the continuing shrinking of the ethanol industry weighed on both corn and soybean futures. Live cattle futures closed narrowly mixed except for the 2% loss in the nearby April LC. Lean hog futures closed down the expanded limit of $4.50/cwt.
