CattleLink Market View

Live cattle: Last week was a disappointing week for the live cattle complex. Contracts traded mostly lower throughout the week, as traders continue to be concerned about the market’s technical position. The fed cash cattle market also traded all over the place. Southern live cattle were mostly traded at $242, which was steady to $1 higher than the previous week’s weighted average, and Northern dressed cattle traded at mostly $383, which was $2 lower than the previous week’s weighted average. 

Feeder cattle: The feeder cattle contracts followed in the same direction as the live cattle contracts, but again, that wasn’t because of a lack of fundamental support. The CME feeder cattle index maintained a lofty position above $360, but instead, the contracts traded lower as traders are leery of advancing the futures complex any higher at this time. 

Lean hogs: Last week was a rather successful week for the lean hog complex, as traders religiously supported the contracts throughout the week, even though consumer demand remained mixed.

Corn: December corn finished 2 1/4 cents lower for the week, weakened by slowing demand and the prospect for a monster corn crop, settling at $4.18.

Soybean Meal: December meal futures fell for the third consecutive week, dropping $5 to finish at $284, weakened by the lower bean market, as China’s demand is still nonexistent.