CattleLink Market View

Live cattle: Last week, the live cattle complex soared to new highs — both in the futures complex and in the cash market. Southern live cattle traded at mostly $255 to $256, which was $9 to $10 higher than the previous week’s weighted average, and Northern dressed cattle traded at $400, which was $14 higher than the previous week’s weighted average. And both the Northern and Southern weighted averages for the week are new all-time highs for the cash market.

Feeder cattle: Last week, the feeder cattle complex mostly followed the direction of the live cattle market. However, it was subject to a tick more downward pressure late in the week, as buyer demand has softened slightly in the countryside, as buyers have mostly filled their grass orders for the year.

Lean hogs: Last week was another challenging week for the hog complex, as traders remain reluctant to be too supportive while consumer demand has been soft as well. 

Corn: May corn surged 16 3/4 cents last week and rose another 5 1/2 cents on Monday to finish at $4.85 3/4 as war premium is added back and funds bought heavily.

Soymeal: May soymeal futures rose just $0.20 last week and was up another $1.60 Monday to settle at $320.90, finishing slightly above the 50-day moving average.