CattleLink Market View

Live cattle: The live cattle complex traded mixed last week. But the technical bottom established in last week’s market held through Monday’s trade, and served as the launchpad to the new week, as the live cattle contracts rallied through Monday’s close. Last week, fed cash cattle prices traded at $386 in the North and $246 in the South — both of which were $2 lower than the previous week’s weighted average.

Feeder cattle: The feeder cattle complex continues to closely follow the live cattle market. The contracts were able to follow the live cattle market’s lead on Monday and closed mostly $6 higher.

Lean hogs: The lean hog complex chopped mostly sideways throughout last week’s trade, as the market continues to yearn for greater fundamental support. 

Corn: May corn finished up 6 1/4 cents last week and another 5 3/4 cents Monday to end the day at $4.60 3/4, supported by the delay in new peace talks with Iran and the still-closed Strait of Hormuz.

Soymeal: May soymeal futures fell $7.50 last week but recovered to finish $9.50 higher on Monday, boosted by news that the EU had rejected several soymeal cargoes from Argentina due to phytosanitary concerns.