CattleLink Market View

Live cattle: Last week, the live cattle complex traded mixed, with the cattle contracts trading lower early in the week but notably higher by the week’s end. Even so, the market’s fundamentals were mixed, as cash prices traded lower (Southern cattle down $2 to $4, and Northern dressed cattle down $13 from the previous week’s weighted average), and boxed beef prices were weaker too. But on Monday, traders weren’t as supportive to the contracts, as they hope to see the market’s fundamentals improve.

Feeder cattle: The feeder cattle complex again followed closely in the live cattle market’s direction last week. Stronger support was seen late in the week following positive remarks made by U.S. Ag Secretary Brooke Rollins. But even so, the feeder cattle complex traded lower on Monday, as traders hope to see the market’s greater fundamentals improve.

Lean hogs: The lean hog complex traded mixed last week, as the market saw a sizeable rally midweek, which mostly carried into Monday’s trade. Traders traded the contracts in a cautious manner and hope to see fundamental support improve so that they can again push the complex higher.

Corn: March corn futures finished up 10 1/4 cents on strong demand during the holiday-shortened week before fading 2 3/4 Monday to end the day at $4.45

Soybean Meal: January soymeal fell 50 cents last week and fell $4.10 on Monday, ending the day at $314.60, pressured by the weak bean market.