CattleLink Market View

Live cattle: Last week was a robust week for the live cattle complex, as the futures market was able to close higher all five days, thanks to the added support of stronger boxed beef prices. And although no Southern live cattle had traded as of Friday afternoon, the cattle that were sold in the North had mostly been marked at $362, which was $2 higher than the previous week’s weighted average.

Feeder cattle: The feeder cattle complex skyrocketed throughout last week and was able to close at new contract highs. Demand remains incredible in the countryside, and traders continue to emphasize that the market’s long-term trajectory is strongly bullish, given that supplies are expected to tighten moving forward.

Lean hogs: The lean hog complex had a tough week last week. The market fell sharply, as traders were unable to find secure support and demand remained weak, further exacerbating the market’s decline.

Corn: December corn futures fell 6 cents last week, with most of the loss on Friday as the record harvest advances with a mostly clear forecast. 

Soybean meal: December soybean meal futures fell another $3.60 for the week to end at $275, pressured by the falling soybean market.