CattleLink Market View

Live cattle: Last week’s trade was a strenuous endeavor for the live cattle complex. The market fell below its 100-day moving average for the first time since December, and the fed cash cattle market traded $5 to $6 lower, as the board’s weakness undermined the market’s fundamentals.

Feeder cattle: The feeder cattle complex endured the same pressure that the live cattle complex saw last week. Traders simply weren’t willing to advance the contract without the live cattle market’s support.

Lean hogs: The lean hog complex ran into some resistance pressure last week, as traders needed to see stronger fundamental support before they’d advance the contracts any higher. 

Corn: May corn rose 8 3/4 cents last week as funds covered shorts, but closed 2 3/4 cents lower on Monday to settle at $4.45 3/4, pressured by the weak wheat market.

Soymeal: May soymeal rose $6.70 last week and gave that all back Monday, closing down $7.60 to end the day at $312.90.