CattleLink Market View

Live cattle: Last week, the live cattle complex traded mixed. Early in the week, the contracts were able to rally, but when fundamental support was slow to develop, the market sank lower later in the week. Cash cattle trade didn’t develop until Thursday and Friday, and prices held steady in the South at $248, but traded steady to $1 lower in the North at $388.

Feeder cattle: The feeder cattle complex also had a mixed week. The contracts traded higher early on but fell lower later in the week, even though feeder cattle demand in the countryside remained red-hot as turnout season nears.

Lean hogs: The lean hog complex endured a challenging week where the futures complex fell lower throughout the entire week, even though consumer demand was strong in the latter half. But by Monday’s close, traders seemed to recognize the strength in pork demand.

Corn: May corn finished up 7 3/4 cents last week and rose another 3 1/4 cents Monday, supported by the dry forecast for Brazil winter corn.

Soymeal: May soymeal futures were unchanged a week ago but fell $6.70 on Monday as traders bought bean oil and sold meal.