CattleLink Market View

Live cattle: Last week was another agonizing week for the live cattle complex, which rounded out the week lower than its 40-day moving average in the spot October contract. The market’s fundamentals weren’t helpful either, as boxed beef prices softened, and fed cash cattle prices traded $2 lower in the South and $5 to $8 lower in the North. 

Feeder cattle: The feeder cattle complex followed alongside the live cattle market’s direction and traded mostly lower throughout last week. Mixed tones were seen in the countryside, as the fall run is inevitably underway. But the CME feeder cattle index remains strong, as on Sept. 11, it closed at $363.48.  

Lean hogs: Overall, the lean hog complex had a strong week, as the contract broke past resistance pressure. But consumer demand was mixed throughout the week, and fundamental support wasn’t much aside from strong cash sales early in the week.

Corn: December corn finished 12 cents lower for the week, with 10 of that gain coming on Friday despite USDA finding record yield and production for corn to finish at $4.30.

Soybean Meal: December meal futures rose $4.60 for the week to close at $288.60, getting support from the strong soybean rally.