CattleLink Market View

Live cattle: Last week, the live cattle complex made huge gains, both on the board (rallying $9.30 higher in the spot February contract) and in the countryside, as cash prices rallied $11 to $16 higher in the North and $7 to $8 higher in the South. But on Monday, the complex wasn’t as aggressive, as traders need to see renewed fundamental support before they’ll challenge the market’s resistance at the 40-day and 100-day moving averages.

Feeder cattle: The feeder cattle complex continues to trade right in line with the live cattle complex, and consequently, last week, it saw massive gains both fundamentally and technically. But on Monday, feeder cattle contracts were cautious, like the live cattle contracts were. 

Lean hogs: The lean hog complex also saw noteworthy gains last week and was able to rally up to the market’s resistance at $82. If consumer demand holds strong, then there’s a chance that traders will be able to pressure that threshold.

Corn: March corn futures, for last week, finished down 3 cents to settle at $4.44 3/4 and fell another penny on Monday to end the day at $4.43 3/4 in quiet pre-report trade.

Soybean Meal: January soymeal fell 11.30 last week and another $1.10 on Monday to end the day at $306.30.