Recent Livestock Analysis
Market Commentary: Cattle Extend Record Rally; Wheat Finds New Lows; Corn, Soyoil Collapse
The CBOT tried to rally overnight and posted some slight gains heading into the morning break, but thereafter the market quickly found selling pressure. Monday’s favorable Crop Progress and conditions report from USDA offered much of the justification for the selling pressure and helped s...
Summary of Futures
Jul 25 Corn closed at $4.7025/bushel, down $0.13 from yesterday's close. Jul 25 Wheat closed at $5.255/bushel, down $0.055 from yesterday's close. Jul 25 Soybeans closed at $10.5275/bushel, down $0.0975 from yesterday's close. Jul 25 Soymeal closed at $298.2/short ton, up $2.3...
Livestock Industry Margins
The pork industry saw production margins improve last week as strong pork demand lifted prices for both the pork cutout and physical hogs. Pork packer margins ticked slightly higher as gains in the pork market outpaced those in the hog market while higher lean hog futures and a slight dip in fe...
Market Commentary: Cattle Hit New Records while Wheat Hits New Lows; Planting in Focus
The CBOT was mostly lower to start the week with expectations of favorable planting progress in this afternoon’s Crop Progress report creating much of the pressure. Wheat was the big loser for the day with favorable weather in the major growing regions prompting a strong wave of selling f...
Summary of Futures
Jul 25 Corn closed at $4.8325/bushel, down $0.0225 from yesterday's close. Jul 25 Wheat closed at $5.31/bushel, down $0.14 from yesterday's close. Jul 25 Soybeans closed at $10.625/bushel, up $0.0325 from yesterday's close. Jul 25 Soymeal closed at $295.9/short ton, down $2.6...
CFTC COT Report Analysis
Friday’s CFTC report showed that funds are slightly increasing bullish bets across the ag space, primarily in the soy complex and livestock futures. Managed money traders’ net ag position (the combined position across the soybean complex, the three U.S. wheat contracts, corn, and th...
Market Commentary: No Raucous End to the Week
With no new input on fundamentals, traders passively went through the day making only minor changes. Monday’s crop progress report will provide some input, and especially focus on the May 12 WASDE. It will be the first keen look at the balance sheets for MY 2025/26. It was the fifth...
Summary of Futures
Jul 25 Corn closed at $4.855/bushel, up $0.015 from yesterday's close. Jul 25 Wheat closed at $5.45/bushel, up $0.005 from yesterday's close. Jul 25 Soybeans closed at $10.5925/bushel, down $0.0275 from yesterday's close. Jul 25 Soymeal closed at $298.5/short ton, up $1.8 from...
Market Commentary: Markets Continue Rebound
Soybeans and corn rose in overnight trading on optimism about the de-escalation of the trade war with China, the world’s largest importer of the oilseeds. Both opened lower this morning but climbed out of the hole to end higher. Wheat closed lower overnight and opened that way this mornin...
Summary of Futures
May 25 Corn closed at $4.7725/bushel, up $0.0525 from yesterday's close. Jul 25 Wheat closed at $5.445/bushel, up $0.01 from yesterday's close. Jul 25 Soybeans closed at $10.62/bushel, up $0.1175 from yesterday's close. Jul 25 Soymeal closed at $296.7/short ton, down $1.9 from...
Livestock Round Up: 2024 Slaughter Totals
The annual livestock slaughter data for 2024 was released Tuesday from USDA. Despite a reduced cattle supply, beef production totaled 27 billion pounds, up slightly from 2023 based on heavier weights, especially in the fall. For 2023, total pounds produced were also about 27 billion pounds, dow...
Market Commentary: Cattle Score New Highs; Wheat Hits New Lows; More Trump Uncertainty
The CBOT was mixed again on Wednesday with grains seeing pressure from fund selling and a lack of significant news while soybeans and livestock traded higher. There are no serious weather issues in the U.S., South America, or Europe right now, which is taking ammunition away from grain bulls. T...
Market Commentary: Cattle Extend Record Rally; Wheat Finds New Lows; Corn, Soyoil Collapse
The CBOT tried to rally overnight and posted some slight gains heading into the morning break, but thereafter the market quickly found selling pressure. Monday’s favorable Crop Progress and conditions report from USDA offered much of the justification for the selling pressure and helped s...
Summary of Futures
Jul 25 Corn closed at $4.7025/bushel, down $0.13 from yesterday's close. Jul 25 Wheat closed at $5.255/bushel, down $0.055 from yesterday's close. Jul 25 Soybeans closed at $10.5275/bushel, down $0.0975 from yesterday's close. Jul 25 Soymeal closed at $298.2/short ton, up $2.3...
Livestock Industry Margins
The pork industry saw production margins improve last week as strong pork demand lifted prices for both the pork cutout and physical hogs. Pork packer margins ticked slightly higher as gains in the pork market outpaced those in the hog market while higher lean hog futures and a slight dip in fe...
Market Commentary: Cattle Hit New Records while Wheat Hits New Lows; Planting in Focus
The CBOT was mostly lower to start the week with expectations of favorable planting progress in this afternoon’s Crop Progress report creating much of the pressure. Wheat was the big loser for the day with favorable weather in the major growing regions prompting a strong wave of selling f...
Summary of Futures
Jul 25 Corn closed at $4.8325/bushel, down $0.0225 from yesterday's close. Jul 25 Wheat closed at $5.31/bushel, down $0.14 from yesterday's close. Jul 25 Soybeans closed at $10.625/bushel, up $0.0325 from yesterday's close. Jul 25 Soymeal closed at $295.9/short ton, down $2.6...
CFTC COT Report Analysis
Friday’s CFTC report showed that funds are slightly increasing bullish bets across the ag space, primarily in the soy complex and livestock futures. Managed money traders’ net ag position (the combined position across the soybean complex, the three U.S. wheat contracts, corn, and th...
Market Commentary: No Raucous End to the Week
With no new input on fundamentals, traders passively went through the day making only minor changes. Monday’s crop progress report will provide some input, and especially focus on the May 12 WASDE. It will be the first keen look at the balance sheets for MY 2025/26. It was the fifth...
Summary of Futures
Jul 25 Corn closed at $4.855/bushel, up $0.015 from yesterday's close. Jul 25 Wheat closed at $5.45/bushel, up $0.005 from yesterday's close. Jul 25 Soybeans closed at $10.5925/bushel, down $0.0275 from yesterday's close. Jul 25 Soymeal closed at $298.5/short ton, up $1.8 from...
Market Commentary: Markets Continue Rebound
Soybeans and corn rose in overnight trading on optimism about the de-escalation of the trade war with China, the world’s largest importer of the oilseeds. Both opened lower this morning but climbed out of the hole to end higher. Wheat closed lower overnight and opened that way this mornin...
Summary of Futures
May 25 Corn closed at $4.7725/bushel, up $0.0525 from yesterday's close. Jul 25 Wheat closed at $5.445/bushel, up $0.01 from yesterday's close. Jul 25 Soybeans closed at $10.62/bushel, up $0.1175 from yesterday's close. Jul 25 Soymeal closed at $296.7/short ton, down $1.9 from...
Livestock Round Up: 2024 Slaughter Totals
The annual livestock slaughter data for 2024 was released Tuesday from USDA. Despite a reduced cattle supply, beef production totaled 27 billion pounds, up slightly from 2023 based on heavier weights, especially in the fall. For 2023, total pounds produced were also about 27 billion pounds, dow...
Market Commentary: Cattle Score New Highs; Wheat Hits New Lows; More Trump Uncertainty
The CBOT was mixed again on Wednesday with grains seeing pressure from fund selling and a lack of significant news while soybeans and livestock traded higher. There are no serious weather issues in the U.S., South America, or Europe right now, which is taking ammunition away from grain bulls. T...