CattleLink Market View

Live cattle: Last week was a wild week for the live cattle complex. Up until Friday’s trade, the market was bursting at its seams, trading higher in both the futures complex and in cash cattle. Southern live cattle were trading at mostly $240 ($5 higher), and Northern dressed cattle were trading at mostly $372 ($9 higher). But on Friday, President Donald Trump said during a White House press conference that his administration was working to bring down high beef prices. Those comments panicked the market and led to a sharply lower close on Friday. 

Feeder cattle: The feeder cattle complex traded exceptionally well throughout last week but was also crippled on Friday and actually closed limit lower Friday afternoon as traders and cattlemen alike tried to determine what sort of trade deal President Trump could have set. 

Lean hogs: The lean hog complex scaled lower throughout most of the week as the market struggled to find footing in the futures complex. And without consumer demand being consistent, uncertainty was the market’s overarching theme.

Corn: December corn futures rose 6 cents last week, ending four straight lower weeks, strengthened by strong export demand and fund buying.

Soybean Meal: December soybean meal futures rose $6 for the week to finish at $281, supported by the strong soybean market and fund short-covering.