CattleLink Market View

Live cattle: Last week was a turbulent time for the live cattle complex. The market was let down and disappointed on most fronts, as the futures market closed lower, boxed beef prices trended lower and the fed cash cattle market traded lower too. Last week, Southern live cattle traded at $248, which was $7 lower than the previous week’s weighted average. Northern dressed cattle traded at mostly $393, which was $10 lower than the previous week’s weighted average.  

Feeder cattle: Last week was truly a mixed bag for the feeder cattle complex. The market was met with mixed buyer demand in the countryside, sometimes seeing higher prices but at other times seeing weaker demand. But the contracts drifted lower throughout the week, as the feeder cattle contract continues to mirror the mannerisms of the live cattle contracts.  

Lean hogs: The lean hog contracts chopped sideways last week, as traders were pleased to see increased support from packers in the cash market and from consumers. But even so, the market’s resistance at the $100 threshold continues to be a stiff barrier that traders can’t overcome at this point. 

December corn: Dec corn soared 19 1/2 cents last week, following the bullish USDA data and finished up another 2 1/4 cents on Monday to settle at $4.63 1/4, propped up by the forecast hot and dry weather ahead.

December soymeal: December meal rose $14.30 last week and sold off $3.70 Monday to close at $315.