CattleLink Market View

Live cattle: Last week, the live cattle complex slowly traded lower throughout most of the week’s trade — simply not receiving the fundamental support it needed. But late Friday afternoon, Tyson Foods announced that it would be closing its Lexington, Nebraska, plant, which led to the live cattle contracts closing limit lower on Monday.

Feeder cattle: The feeder cattle complex continued to trade right in sync with the live cattle market, which is why the complex closed at its limit — down $9.25 on Monday — as traders are concerned about what implications the reduction of throughput is going to have on the feeding sector and ultimately on the demand for feeder cattle.

Lean hogs: The live cattle complex traded mixed last week as traders continue to yearn for more fundamental demand but seem to be finding some technical footing in the spot February contract around $77.50.

Corn: March corn futures finished down 3/4 cent in dull trade to finish at $4.23 3/4 on Monday after closing 6 1/2 cents lower last week.

Soybean Meal: January soymeal fell 90 cents on Monday after falling $5.40 Friday to end the day Monday at $318.20.