Recent Livestock Analysis
Market Commentary: Continued Edging Lower on Big Supplies
It was a mixed and quiet close to the market after a week of mostly price declines. There were new contract lows scored by front month SRW and HRS. Soybean traders didn’t know where to take their positions and so they left the September and November contracts both unchanged. Outside marke...
Summary of Futures
Dec 25 Corn closed at $4.1075/bushel, down $0.03 from yesterday's close. Sep 25 Wheat closed at $5.1675/bushel, down $0.065 from yesterday's close. Nov 25 Soybeans closed at $9.8925/bushel, up $0 from yesterday's close. Dec 25 Soymeal closed at $280.5/short ton, up $4.5 from y...
How Will Soybeans’ Uncertain Outlook Affect Other Commodities?
November soybean futures’ recent move below the psychologically important $10.00 threshold has triggered concerns about weakness there affecting other markets. The question of how soybeans could impact other markets is germane because the oilseed is facing larger and more rapid adjustment...
Market Commentary: New Highs and Lows, Mixed Volume and Results
December corn closed higher for a second session in a row, no doubt aided by the daily export sales reported by USDA. By contrast and since its recent high back on 18 July, both the September and November soybean contracts have closed lower each session but one. There was higher vol...
Livestock Roundup: Cage-Free Egg Trend Complicates HPAI Recovery
USDA released its Egg Products report yesterday. Shell eggs broken totaled 199 million dozen during June 2025, down 2 percent from June 2024, but 2 percent above the 194 million dozen broken during May. During calendar year 2025 through June, shell eggs broken totaled 1.15 billion dozen, down 1...
Summary of Futures
Dec 25 Corn closed at $4.1375/bushel, up $0.015 from yesterday's close. Sep 25 Wheat closed at $5.2325/bushel, down $0.005 from yesterday's close. Nov 25 Soybeans closed at $9.8925/bushel, down $0.065 from yesterday's close. Dec 25 Soymeal closed at $276/short ton, up $1.5 fro...
Market Commentary: Export Demand Steadies Corn; Soybeans Fall with Midwest Rain
The CBOT showed mixed trends across its major ag markets on Wednesday with corn and KC wheat finding some short covering that stabilized values and led to small gains. A big part of the stability that came to corn futures was from a flood of export interest that has recently entered the market...
Summary of Futures
Dec 25 Corn closed at $4.1225/bushel, up $0.0125 from yesterday's close. Sep 25 Wheat closed at $5.2375/bushel, down $0.06 from yesterday's close. Nov 25 Soybeans closed at $9.9575/bushel, down $0.1375 from yesterday's close. Dec 25 Soymeal closed at $274.5/short ton, down $2...
Market Commentary: Weather Sinks Grain Bull Hopes; Cattle Hit All-Time Highs
The theme for this week’s grain markets seems to be that of favorable weather, big crops, and increasingly bearish sentiment. That was certainly the case Tuesday, as corn, soybeans, soymeal, and wheat all sold off amid fund and commercial selling. Several markets/contracts hit new contrac...
Livestock Industry Margins
Beef packer margins fell $68/head last week and marked the third straight week of declines to end near -$220, which is back among the worst margins in the past decade. The culprit for weaker margins was an $6/cwt pullback in the Choice cutout and broader beef markets while fed cattle prices ral...
Market Commentary: Weather Overrides Trade Deal; Cattle Hit New Highs on Tight Inventories
The big news for Monday’s ag market trade wasn’t the U.S.-EU trade deal, but rather continued favorable weather in the U.S. Midwest that will boost corn and soybean yield potential to record or near-record levels. The weather has private analysts boosting yield expectations by sever...
Summary of Futures
Dec 25 Corn closed at $4.14/bushel, down $0.05 from yesterday's close. Sep 25 Wheat closed at $5.385/bushel, up $0.0025 from yesterday's close. Nov 25 Soybeans closed at $10.115/bushel, down $0.095 from yesterday's close. Dec 25 Soymeal closed at $279.3/short ton, down $2.3 fr...
Market Commentary: Continued Edging Lower on Big Supplies
It was a mixed and quiet close to the market after a week of mostly price declines. There were new contract lows scored by front month SRW and HRS. Soybean traders didn’t know where to take their positions and so they left the September and November contracts both unchanged. Outside marke...
Summary of Futures
Dec 25 Corn closed at $4.1075/bushel, down $0.03 from yesterday's close. Sep 25 Wheat closed at $5.1675/bushel, down $0.065 from yesterday's close. Nov 25 Soybeans closed at $9.8925/bushel, up $0 from yesterday's close. Dec 25 Soymeal closed at $280.5/short ton, up $4.5 from y...
How Will Soybeans’ Uncertain Outlook Affect Other Commodities?
November soybean futures’ recent move below the psychologically important $10.00 threshold has triggered concerns about weakness there affecting other markets. The question of how soybeans could impact other markets is germane because the oilseed is facing larger and more rapid adjustment...
Market Commentary: New Highs and Lows, Mixed Volume and Results
December corn closed higher for a second session in a row, no doubt aided by the daily export sales reported by USDA. By contrast and since its recent high back on 18 July, both the September and November soybean contracts have closed lower each session but one. There was higher vol...
Livestock Roundup: Cage-Free Egg Trend Complicates HPAI Recovery
USDA released its Egg Products report yesterday. Shell eggs broken totaled 199 million dozen during June 2025, down 2 percent from June 2024, but 2 percent above the 194 million dozen broken during May. During calendar year 2025 through June, shell eggs broken totaled 1.15 billion dozen, down 1...
Summary of Futures
Dec 25 Corn closed at $4.1375/bushel, up $0.015 from yesterday's close. Sep 25 Wheat closed at $5.2325/bushel, down $0.005 from yesterday's close. Nov 25 Soybeans closed at $9.8925/bushel, down $0.065 from yesterday's close. Dec 25 Soymeal closed at $276/short ton, up $1.5 fro...
Market Commentary: Export Demand Steadies Corn; Soybeans Fall with Midwest Rain
The CBOT showed mixed trends across its major ag markets on Wednesday with corn and KC wheat finding some short covering that stabilized values and led to small gains. A big part of the stability that came to corn futures was from a flood of export interest that has recently entered the market...
Summary of Futures
Dec 25 Corn closed at $4.1225/bushel, up $0.0125 from yesterday's close. Sep 25 Wheat closed at $5.2375/bushel, down $0.06 from yesterday's close. Nov 25 Soybeans closed at $9.9575/bushel, down $0.1375 from yesterday's close. Dec 25 Soymeal closed at $274.5/short ton, down $2...
Market Commentary: Weather Sinks Grain Bull Hopes; Cattle Hit All-Time Highs
The theme for this week’s grain markets seems to be that of favorable weather, big crops, and increasingly bearish sentiment. That was certainly the case Tuesday, as corn, soybeans, soymeal, and wheat all sold off amid fund and commercial selling. Several markets/contracts hit new contrac...
Livestock Industry Margins
Beef packer margins fell $68/head last week and marked the third straight week of declines to end near -$220, which is back among the worst margins in the past decade. The culprit for weaker margins was an $6/cwt pullback in the Choice cutout and broader beef markets while fed cattle prices ral...
Market Commentary: Weather Overrides Trade Deal; Cattle Hit New Highs on Tight Inventories
The big news for Monday’s ag market trade wasn’t the U.S.-EU trade deal, but rather continued favorable weather in the U.S. Midwest that will boost corn and soybean yield potential to record or near-record levels. The weather has private analysts boosting yield expectations by sever...
Summary of Futures
Dec 25 Corn closed at $4.14/bushel, down $0.05 from yesterday's close. Sep 25 Wheat closed at $5.385/bushel, up $0.0025 from yesterday's close. Nov 25 Soybeans closed at $10.115/bushel, down $0.095 from yesterday's close. Dec 25 Soymeal closed at $279.3/short ton, down $2.3 fr...