CattleLink Market View

Live cattle: Last week was a mixed bag for the live cattle complex. The market saw another rally in the cash market, but the futures complex seemed dull to the fundamental rally. Last week, Northern dressed sales were marked at mostly $402, which is $3 higher than the previous week’s weighted average. Southern live cattle traded at mostly $256 to $257, which is $2 to $3 higher than the previous week’s weighted average.

Feeder cattle: The feeder cattle contracts again closely followed the live cattle market’s direction, trading higher when the live cattle contracts did, and lower when they did as well. Grass orders are filling up in the countryside, and order buyers are being more selective in what they purchase. 

Lean hogs: Throughout most of last week’s trade, the lean hog complex traded lower, as traders desperately need fundamental support to improve — especially from consumers. 

Corn: July corn futures fell 9 cents last week and finished up 4 cents Monday to end the day at $4.75 1/4, supported by new morning export sales.

Soymeal: July soymeal futures rose just $0.40 last week and finished up $5.10 Monday to end the day at $324.80, supported by optimism over the Thursday start to the U.S.-China meeting.