CattleLink Market View

Live cattle: Last week, the live cattle complex scored some impressive gains, as the futures market continues to trade alongside its 100-day moving average. But the most remarkable point that the market accomplished was seeing fed cash cattle prices trade substantially higher, as Southern live cattle traded at $230 (up $6), and Northern dressed cattle traded at mostly $353 to $355 ($10 to $12 higher).

Feeder cattle: The feeder cattle complex again followed the live cattle market closely, desiring to trade higher in the futures complex but unable to do so to the degree to which it desires, as the 100-day moving average poses a significant technical barrier. Feeder cattle demand in the countryside was strong throughout most of the week, as calves traded mostly $10 to $20 higher.

Lean hogs: Fueled by strong consumer demand, the lean hog complex had an exceptional week, as the market rallied to the highest point it’s traded at since late October.

Corn: March corn futures for last week finished down 4 cents at $4.40 3/4 and lost another penny Monday to finish at $4.39 3/4.

Soybean Meal: January soymeal fell $4.90 last week for the fourth straight lower weekly finish and rose $1 Monday to end the day at $303.50 in quiet trade.