CattleLink Market View

Live Cattle: Live cattle futures closed mostly moderately higher on Monday, up 40 to 182. Last week, futures experienced a strong rally, pushed by a surge in negotiated cash-fed cattle prices and tight supplies. From the previous Friday to last Thursday, the Apr contract was up $7.70, while the Jun issue was $7.55 higher. Compared to the prior week’s weighted averages, dressed cash cattle sales last week were about $13 higher, at mostly $385. Live deals were $8 to $9 higher, at mostly $245 to $246.

Feeder Cattle: Feeder cattle futures ended the day mixed, mostly modestly higher, off 87 to up 117. Last week, contracts saw an even stronger upward trend due in part to the tight supply, strong demand, coupled with the higher live cattle prices. From Friday to Thursday, the Apr contract was up $11.45, and the May issue was $10.80 higher. 

Lean Hogs: Closed widely higher Monday afternoon, up 12 to 322. Last week, futures closed lower, with the Thursday Apr issue closing below the 200-day moving average for the first time since Dec 9. From Friday to Thursday, the Apr contract was down 0.42, while Jun was 1.65 lower.

Corn: May corn rose 8 1/4 cents last week before finishing 1 3/4 higher to settle at $4.54 on Monday.

Soymeal: May soymeal finished little changed last week but rose $1.40 on Monday to settle at $316.60.