Market Comments

Schwieterman: Live Cattle Futures Show Some Strength, Corn Exports To Receive Boost From Mexico

Fri, 20 Nov 2009 22:40:16 GMT

The US Dollar Index fell to a new low for the move on Monday, but posted an outside week higher on the charts. It will be interesting to see if we get any follow through strength in the Dollar next week.

CME Livestock Review: Hogs Rally On Short-Covering, Fund Buys

Fri, 20 Nov 2009 21:52:45 GMT

Chicago Mercantile Exchange hogs closed higher Friday on short-covering, fund buying and buy stops.

CBOT Corn Review: Lower; Harvest Weakness, Lacks Fresh Support

Fri, 20 Nov 2009 21:46:19 GMT

Corn futures on the Chicago Board of Trade settled lower Friday, stumbling on harvest pressure and a lack of fresh supportive news to underpin prices.

CME Livestock Outlook: Mainly Firm Hogs As Shorts Cover

Fri, 20 Nov 2009 14:40:09 GMT

A generally firm Chicago Mercantile Exchange hogs open is possible Friday on potential short-covering ahead of the weekend, said analysts and brokers.

CBOT Corn Outlook: Outside Markets Seen Pressuring Prices

Fri, 20 Nov 2009 14:37:19 GMT

Bearish signals from outside markets are expected to put Chicago Board of Trade corn futures on the defensive early Friday after prices dipped overnight.

Thompson: Lack Of Cattle Selling, Corn Unable To Push Through Resistance

Fri, 20 Nov 2009 14:25:33 GMT

Yesterday's action consisted of mostly lack of selling in the front months. An open and hold above $83.57 this morning will keep the market supported with bounces most likely running into resistance early at $84.15.

Allendale Early Calls: Corn Lower On Weak Demand, Beef To Bottom Out

Fri, 20 Nov 2009 14:02:35 GMT

The story in this cattle market is clear. We all know beef demand will bottom and improve at some point in the future. The arguments come on both “the when of the rebound” and “strength level of the rebound”.

Schwieterman: A Reversal Lower In Overnight Corn Prices Could Aid Feeder Cattle Recovery

Fri, 20 Nov 2009 13:55:27 GMT

Feeder cattle were supported by the live futures on Thursday, but just managed to hold their head above water, posting very modest gains. Cash trade continues to hold near recent levels, and appear capable of showing some index improvement over the next few days.

CME Livestock Review: Most Cattle Up; Pork Complex Mostly Weak

Thu, 19 Nov 2009 20:48:47 GMT

A late round of position-squaring by local traders Thursday allowed the Chicago Mercantile Exchange pit-traded live cattle market to end mostly higher.

CBOT Corn Review: Ends Lower On Dollar, Weak Demand

Thu, 19 Nov 2009 20:47:02 GMT

Chicago Board of Trade corn futures ended lower Thursday on pressure from a stronger dollar, weaker crude oil and poor demand.

CME Livestock Outlook: Lean Hogs Seen Weaker; Cattle Firmer

Thu, 19 Nov 2009 14:43:35 GMT

Chicago Mercantile Exchange pit-traded lean hog futures Thursday are expected to open weaker in most contracts, pressured by a steep drop in wholesale pork prices Wednesday.

CBOT Corn Outlook: Lower As Export Demand Remains Weak

Thu, 19 Nov 2009 14:41:21 GMT

Chicago Board of Trade corn futures are expected to open lower Thursday following overnight losses and weak export sales.

Thompson: Lack Of Follow Through Cattle Buying, Hogs Trade Sideways

Thu, 19 Nov 2009 14:25:51 GMT

Lack of follow thru buying attracted early selling in the cattle complex. The market broke below $83.45 and eventually faded to just below $83.00 before attracting buying interest.

Allendale Early Calls: Cash Cattle Trades $2 Lower, Corn Selling At Day's End

Thu, 19 Nov 2009 14:20:57 GMT

This morning’s news that cash cattle traded steady to $2 lower in Nebraska set the tone for the day. That will reinvigorate the talk of steady to $1 lower action for the live based action later this week.

Schwieterman: Live Cattle Futures Post Heavy Losses, Corn Starts Day Under Pressure

Thu, 19 Nov 2009 14:09:22 GMT

Live cattle futures posted moderate to heavy losses on Wednesday, in spite of the widening choice select spread and the largest beef movement day in more than 5 months. Weak cash trade that began in the north and filtered into southern trade provided the selling.

CBOT Corn Review: Corn Corrects Lower; Hovers Around $4

Wed, 18 Nov 2009 21:09:25 GMT

Chicago Board of Trade corn futures ended lower Wednesday, retreating back below $4 in a mild correction after early gains.

CME Livestock Review: Cattle Complex Dips; Hogs Mixed

Wed, 18 Nov 2009 20:39:11 GMT

Chicago Mercantile Exchange pit-traded live cattle and feeder futures prices Wednesday ended lower amid widespread long liquidation.

CBOT Corn Outlook: Up 2-4c On Soy, Weak Dollar, Slow Harvest

Wed, 18 Nov 2009 14:41:22 GMT

Chicago Board of Trade corn futures are expected to open higher Wednesday following overnight gains as bulls try to keep the market above $4.

CME Livestock Outlook: Hogs Seen Mixed; Cattle Weaker

Wed, 18 Nov 2009 14:39:21 GMT

Chicago Mercantile Exchange pit-traded lean hog futures Wednesday are expected to open mixed with the front months seen firm but the deferred contracts flat to lower.

Thompson: Feeder Cattle In Positive Territory, Corn Grinds Higher

Wed, 18 Nov 2009 14:36:02 GMT

Yesterday's rally in the December live cattle reached up into an area that is close to meeting the .382 fib retracement that I discussed yesterday. If the market struggles to push through yesterday's closing highs then I would expect that the market will turn back lower.

Allendale Early Calls: Beef Exports Lower Than Last Year, Corn Futures Lower On Strong Dollar

Wed, 18 Nov 2009 14:27:22 GMT

While the pork based export news was good, yesterday we noted the numbers were not great for beef. Beef exports have now run lower than last year for three months in a row. The other issue we have in front of us is Friday’s Cattle on Feed report.

Schwieterman: New Buying Moves Live Cattle Futures Higher, Corn Up On Outside Market Support

Wed, 18 Nov 2009 14:10:57 GMT

Live cattle futures closed moderately higher on Tuesday, as new buying in the market took over in the second half of the session. Open interest was up over 7,800 contracts for the day, a huge boost in activity. Asking prices remain firm, with the south still looking for a rebound into the $86-$87 level.

CME Livestock Review: Pork Complex Rallies; Cattle Also Gain

Tue, 17 Nov 2009 21:00:03 GMT

Chicago Mercantile Exchange pit-traded lean hog futures closed mostly higher after rallying on a turnaround in the pork price outlook and aided by tripped buy stops late in the session.

CBOT Corn Review: Down Slightly; Spread Trade, Dollar Weighs

Tue, 17 Nov 2009 20:58:44 GMT

Chicago Board of Trade corn futures ended mostly lower Tuesday, as the market was pressured by a strong dollar and spread trade.

Thompson: Feeder Cattle Sets New Low, Corn & Oil Lower On Stronger Dollar

Tue, 17 Nov 2009 15:03:07 GMT

Feeder cattle traded briefly below early support of $92.25 and registered a new low for the month, before settling just above support late into the session. The feeders seem to be running out of willing sellers and could be setting up to relieve their oversold condition.

CME Livestock Outlook: Hogs Seen Lower; Cattle Mixed

Tue, 17 Nov 2009 14:49:21 GMT

Chicago Mercantile Exchange lean hog futures Tuesday are expected to open modestly lower, pressured by flat to mostly weaker cash calls and a cautious outlook for hog prices the balance of the week.

CBOT Corn Outlook: Lower Amid Profit-Taking, Dollar Gains

Tue, 17 Nov 2009 14:46:22 GMT

Chicago Board of Trade corn futures are expected to open on the defensive Tuesday amid bearish outside markets and profit-taking following Monday's gains.

Allendale Early Calls: Cattle Higher, Corn Moves Up On Rain In The Midwest

Tue, 17 Nov 2009 14:21:17 GMT

Rain, outside markets, option open interest and ethanol prices are all reasons for a move higher today. To start off, the rain is the first and most obvious factor we can look at today. Areas of MO, southern IA, IL and IN are getting rains they definitely do not need.

Schwieterman: Feeder Cattle Futures Post New Contract Lows, Corn Down Overnight On Stronger Dollar

Tue, 17 Nov 2009 14:09:54 GMT

Feeder cattle futures posted new contract lows everywhere except the soon to expire November contract on Monday. Sharply higher corn values were the key to the sell off, and losses of .10-.30 were considered minimal considering the extent of the corn rally.

CBOT Corn Review: Ends Above $4 On Dollar Slump, Weather

Mon, 16 Nov 2009 20:47:50 GMT

A stumbling U.S. dollar helped push Chicago Board of Trade corn futures to a rare close above $4 on Monday.

Thompson: Live Cattle Down Trend, Corn Support On Dips

Mon, 16 Nov 2009 14:31:52 GMT

Dec cattle were able to close higher on Friday, mostly from short covering before the weekend.

Schwieterman: Cattle Trades Lower, Corn Up On Weak Dollar

Mon, 16 Nov 2009 14:18:33 GMT

At the moment we are back to a trading situation where a weak Dollar results in strength in just about everything else. The corn was firm overnight, but hasn’t pushed through any of the recent highs.

Cattle Market Notes: Fed Prices Stumble, Soft Beef Prices

Mon, 16 Nov 2009 00:31:17 GMT

After two weeks of working higher and then a steady move last week, fed cattle prices tumbled this week on soft boxed beef prices and lack of demand. For the most part prices retreated about $3 across major feeding regions.

Schwieterman: Cash Cattle Down, Corn Holds Gains

Sat, 14 Nov 2009 00:52:23 GMT

We had the November supply and demand report this week. It wasn’t particularly interesting as it didn’t hold any major surprises. Corn production was cut and soybean production was increased. Corn exports were cut and soybean exports were increased.

CME Livestock Review: Hogs, Cattle Snap Back

Fri, 13 Nov 2009 20:51:56 GMT

Chicago Mercantile Exchange hogs settled higher Friday on short-covering, fund buying and forward spreading that atoned for Thursday's futures losses.

CBOT Corn Review: Flat; Mixed Outside Markets; Up On Week

Fri, 13 Nov 2009 20:45:00 GMT

Chicago Board of Trade corn futures were steady Friday, ending unchanged amid mixed outside markets, crop quality concerns and lackluster demand.

Allendale Early Calls: Cattle Futures Lower, Rumors Of Vomitoxin In Corn In DDG's

Fri, 13 Nov 2009 14:52:18 GMT

The change in psychology that has gripped the cattle market has been both sudden and severe. You may remember that six weeks ago we bottomed the cash cattle market with trades at $80 and an average at $81.

CME Livestock Outlook: Mainly Firm Hogs As Shorts Cover

Fri, 13 Nov 2009 14:45:08 GMT

Chicago Mercantile Exchange hogs could open generally firm Friday on short-covering after futures' steep plunge Thursday and December's modest discount to CME's hog index, according to analysts and brokers.

CBOT Corn Outlook: Mixed As Trade Eyes Quality Concerns

Fri, 13 Nov 2009 14:44:00 GMT

Chicago Board of Trade corn is expected to open mixed Friday following two-sided trade overnight amid concerns about the quality of the crop.

Schwieterman: Live Cattle Futures Plunged Lower, Corn Higher On Weak Dollar

Fri, 13 Nov 2009 14:07:16 GMT

The corn was weaker yesterday, but held on rather well considering the outside market action. The corn is still positive for the week and was higher at times over night. If the Dollar stays weak through the day, I would expect to see a very solid close in the corn market.

CME Livestock Review: Pork Complex Lower; Cattle Also Fall

Thu, 12 Nov 2009 21:12:54 GMT

Chicago Mercantile Exchange lean hog futures closed lower across the board Thursday, with the nearby December through April contracts falling the most.

CBOT Corn Review: Ends Lower On Dollar, Quality Concerns

Thu, 12 Nov 2009 21:10:59 GMT

Chicago Board of Trade corn futures ended lower Thursday amid corn/soybean spread trading and concerns about the quality of the crop.

CME Livestock Outlook: Traders Call Cattle, Hogs Weaker

Thu, 12 Nov 2009 15:02:41 GMT

Chicago Mercantile Exchange lean hog futures Thursday are expected to open mostly weaker, pressured by back-to-back days of lower wholesale pork prices and flat to weaker cash calls.

CBOT Corn Outlook: Down 6-8c On Harvest Pressure, Firm Dollar

Thu, 12 Nov 2009 15:01:27 GMT

Chicago Board of Trade corn futures are expected to open lower Thursday amid harvest progress and strength in the dollar.

Allendale Early Calls: December Cattle Trade Drops, Rain To Delay Corn Harvest

Thu, 12 Nov 2009 14:33:51 GMT

It is amazing to see today’s December cattle trade go down and attempt to retest those 83.40 lows posted in early October. Cash cattle traded in Nebraska at $2 to $3 lower on a dressed basis at $131 and $132. That is down the equivalent of $1 lower on a live basis.

Thompson: Live Cattle Break, Tight Dec Hog Range

Thu, 12 Nov 2009 14:22:43 GMT

The break of $84.17 yesterday led the cattle lower and closing below this area will keep the market under pressure to start this morning. The next good area of support will hit around $83.00 with an outside chance of dipping to $82.60 intraday.

Schwieterman: Beef Prices Weaker, Corn Lower

Thu, 12 Nov 2009 14:13:19 GMT

Feeder cattle futures closed sharply lower on Wednesday, with March and April contract putting in new contract lows on the break. The Active January contract is testing its lows in overnight trade.

CME Livestock Review: Cash, Goldman 'Roll' Drop Cattle; Hogs Mixed

Wed, 11 Nov 2009 21:20:31 GMT

Chicago Mercantile Exchange live cattle settled lower Wednesday on cash cattle prices that fell short of expectations, sell stops and aggressive "Goldman roll" movement.

CBOT Corn Review: Ends Mixed; Unable To Hold Above $4

Wed, 11 Nov 2009 21:18:46 GMT

Chicago Board of Trade corn ended mixed Wednesday in a day of choppy trading as outside money flow plays a key role in the market, traders said.

CME Livestock Outlook: Mainly Weak Hogs; Mixed Cattle

Wed, 11 Nov 2009 14:46:18 GMT

Analysts and brokers anticipate a mainly weak Chicago Mercantile Exchange hogs open Wednesday on possible spillover from futures' declines Tuesday.

CBOT Corn Outlook:Up 2-3c On Follow-Through Buying, Dollar

Wed, 11 Nov 2009 14:43:44 GMT

Chicago Board of Trade corn futures are expected to open slightly higher Wednesday on follow-through technical buying and a weaker dollar, analysts said.

Allendale Early Calls: 2010 Cattle Futures Low, Corn Rallies

Wed, 11 Nov 2009 14:25:22 GMT

Look at June 2010 cattle futures at 85.80. It is holding a mild 4% premium over the June 2009 expiration price of 82.52. Bottom line here is futures are all scared about first quarter slaughters. They are using that fear to depress ALL 2010 futures too much.

Schwieterman: Feeder Cattle Futures Feels The Pressure Of Higher Corn Futures

Wed, 11 Nov 2009 14:15:25 GMT

Live cattle futures closed modestly lower on Tuesday, with lack of strength in the beef market and continued liquidation of long positions weighing on the market. Some light cash trade in eastern Nebraska late in the afternoon as low as $132 is disappointing.

CME Livestock Review: 'Roll' Presses Cattle; Profiteers Trim Hogs

Tue, 10 Nov 2009 21:10:24 GMT

Chicago Mercantile Exchange live cattle ended weaker Tuesday on cash cattle price uncertainty, sell stops and "Goldman roll" transactions.

CBOT Corn Review: Prices Climb Late As Funds Buy

Tue, 10 Nov 2009 20:39:07 GMT

Chicago Board of Trade corn futures ended higher Tuesday amid spread trading and a late surge of fund-buying, traders said.

Audio Cattle Market Report: Steady Cash Prices, Lower Corn Production

Tue, 10 Nov 2009 17:18:25 GMT

John Michael Riley and John Anderson discuss last week's cattle market and this week's crop report.

Thompson: Feeder Cattle Under Pressure, Hogs Erode

Tue, 10 Nov 2009 14:48:06 GMT

Yesterday was a featureless day across the cattle pits. Today $84.90 will be a critical area for Dec. An open below this area, the market will target $84.35, which should contain selling through today's session.

Allendale Early Calls: Cattle Market Hurt By Unemployment, Corn Starts Day 5 Cents Higher

Tue, 10 Nov 2009 14:35:22 GMT

Friday’s unemployment report changed our stance on cattle. While we still feel this market posted significant lows in early October, the quickness of a resulting rally is now called into question. A few more people unemployed than expected will hinder the price rebound in the coming two to four months.

Schwieterman: Feeder Cattle Futures Lose Ground, Corn Opens Higher

Tue, 10 Nov 2009 14:27:32 GMT

This morning’s corn numbers were slightly friendly with the production and yield estimates coming in a touch below the average trade guesses at 12.921 billion and 162.9 bu./ac respectively. Ending stocks were in line with expectations at 1.625 billion.

CME Livestock Outlook: Most Hogs Weak On Profit-Taking

Tue, 10 Nov 2009 14:23:01 GMT

Chicago Mercantile Exchange hogs could open mostly weak Tuesday on profit-taking by those who were recently long the market, said analysts and brokers.

US Cash Cattle Pre-Open: Price Direction Uncertain

Tue, 10 Nov 2009 14:21:32 GMT

Cash cattle traders in the Plains states Tuesday said many traders remained uncertain about price direction this week.

CBOT Corn Outlook: Steady-Up Slightly Following USDA Report

Tue, 10 Nov 2009 14:18:10 GMT

Traders are mixed on Tuesday's open for Chicago Board of Trade corn futures, as any gains from a mildly friendly government report could be limited by a bearish soybean report and a corrective tone following Monday gains.

CME Livestock Review: Hogs, Most Cattle Rally Late On 'Roll'

Mon, 09 Nov 2009 21:08:46 GMT

Chicago Mercantile Exchange hogs settled moderately higher Monday on late-session short-covering, buy stops and "Goldman roll" business.

CBOT Corn Review: Rallies On Bullish Outside Market Forces

Mon, 09 Nov 2009 21:04:27 GMT

Corn futures on the Chicago Board of Trade spiked Monday, rallying on bullish outside market forces and speculative-led buying.

Allendale Early Calls: Heavy Harvest Activity This Week, Cattle Futures Hurt By Increase In Unemployment

Mon, 09 Nov 2009 14:42:52 GMT

Cattle futures closed $1.35 lower today to finish at $55.70 in the December contract. Traders took out the 40 day moving average to close at the 3 ½ week low. Unemployment was up 10.2%, the highest in 26 ½ years and was likely the prime reason why.

CME Livestock Outlook: Uneven Hogs, Cattle Indicators

Mon, 09 Nov 2009 14:40:55 GMT

Analysts and brokers anticipate an uneven start Monday for Chicago Mercantile Exchange hogs.

CBOT Corn Outlook: Seen Up On Supportive Outside Markets

Mon, 09 Nov 2009 14:34:52 GMT

Chicago Board of Trade corn futures are expected to start 3 to 5 cents per bushel higher Monday on spillover strength from outside markets and amid positioning ahead of crop reports.

Thompson: Live Cattle Lows, Corn Correction

Mon, 09 Nov 2009 14:33:18 GMT

Live cattle closed the week on their lows and on daily support near $84.90. Starting the week the market needs to hold this area of support early or the market could continue to erode down to $84.35.

US Cash Cattle Pre-Open: Plains Traders Watching Futures

Mon, 09 Nov 2009 14:31:56 GMT

Cash cattle traders in the Plains states Monday were mindful of the bearish technical signals that came from the futures market Friday, thinking the pressure could carry over to the cash market.

Schwieterman: Corn Supported By Weak Dollar, Live Cattle Futures Close Lower

Mon, 09 Nov 2009 14:16:47 GMT

Feeder cattle futures closed the week with modest losses of .70-.75 basis the January contract. The pull back came in spite of corn futures giving up .30 for the week. Overnight trade brought some strength back into the corn market, providing less incentive for a feeder rally.

Schwieterman: Lots Of Corn Still To Be Sold, Charts Suggest December Cattle Headed To $83.50

Fri, 06 Nov 2009 22:13:18 GMT

The December gold made new all time highs this week and moved briefly above the $1100/oz. level. It was a very impressive rally considering the Dollar did not fall to new lows for the move. However, it does look like the bounce in the Dollar is over with and it won’t be surprising at all to see new lows next week.

CME Livestock Review: Fund Sales, 'Roll' Drive Cattle Lower

Fri, 06 Nov 2009 20:48:55 GMT

Chicago Mercantile Exchange live cattle settled lower Friday on fund selling, sell stops and "Goldman roll" transactions.

CBOT Corn Review: Lower On Good Weather, Crude, Soybeans

Fri, 06 Nov 2009 20:47:06 GMT

Pressure from crude oil, soybeans and an improved harvest outlook sent Chicago Board of Trade corn futures lower Friday.

Thompson: Feeder Cattle Test Resistance, Corn Grinds Lower

Fri, 06 Nov 2009 14:44:56 GMT

After probing for new highs the cattle complex started to fade, led mostly by the back months. Today $86.60 is now the resistance and critical point to the upside of the Z live cattle

CME Livestock Outlook: Two-Sided Hogs; Weak Cattle

Fri, 06 Nov 2009 14:39:13 GMT

Analysts and brokers anticipate a mixed Chicago Mercantile Exchange hogs open Friday on position squaring before the weekend and onset of the "Goldman roll."

US Cash Cattle Pre-Open: Trading Pace Mixed; Prices Firm

Fri, 06 Nov 2009 14:37:43 GMT

The Plains states' fed cattle market is beginning to wind down for the week in spots while other areas have barely traded a hoof, market analysts and brokers said.

CBOT Corn Outlook: Lower On Weather, Macro Market Pressure

Fri, 06 Nov 2009 14:36:07 GMT

Chicago Board of Trade corn futures are expected to open weaker Friday following overnight losses and a morning unemployment report that has outside markets on the defensive.

Schwieterman: Little Sign Of Strength For Corn, Feeder Cattle Futures Move Higher

Fri, 06 Nov 2009 14:22:47 GMT

Feeder cattle futures appeared to break out to the upside over the past two days, led by the January contract gaining 1.90 over the two sessions. Any weakness in deferred live cattle futures is likely to stifle further rally attempts in the feeders.

CME Livestock Review: Hogs Yield To Cash, Pre-Roll Pressure

Thu, 05 Nov 2009 20:59:45 GMT

Chicago Mercantile Exchange hogs settled well below board Thursday on lower-than-expected midday direct cash hog quotes, sell stops and pre-"Goldman roll" business.

CBOT Corn Review: Ends Lower On Harvest Weather, Soybeans

Thu, 05 Nov 2009 20:54:41 GMT

Chicago Board of Trade corn stumbled Thursday, ending lower on good harvest weather, farmer selling and slumping soybeans.

Drought Monitor: Wet In The Midwest, Dry In The Florida Peninsula

Thu, 05 Nov 2009 15:15:06 GMT

Looking Ahead: During the next 5 days (November 4-8), a warming trend will occur over much of the United States, centered over the High Plains. Temperatures should be 6-12 degrees Fahrenheit above normal, with the greatest departures over Nebraska and South Dakota.

CME Livestock Outlook: Mixed Hogs, Cattle Mostly Firm

Thu, 05 Nov 2009 14:53:08 GMT

Analysts and brokers have mixed feelings about Thursday's Chicago Mercantile Exchange hogs open.

CBOT Corn Outlook: Down Slightly; Good Harvest Weather

Thu, 05 Nov 2009 14:51:26 GMT

Chicago Board of Trade corn futures are expected to open slightly weaker on Thursday amid good harvest weather and light outside market pressure.

Allendale Early Calls: Larger Corn Production Expected, Many Areas Not Moving Cattle Numbers

Thu, 05 Nov 2009 14:36:50 GMT

Three of four firms that have released crop estimates look for larger corn production. This also includes Allendale. USDA will give its take on Tuesday.

Thompson: Live Cattle Trading Against Resistance, Corn Pulls Back

Thu, 05 Nov 2009 14:36:39 GMT

Live cattle spent most of the early part of the session in quiet trade. Once the market was unable to take out prior day's lows the selling started to dry up.

Schwieterman: Feeder Cattle Futures Explode Higher, Corn Closes Poorly

Thu, 05 Nov 2009 14:17:38 GMT

Feeder cattle futures exploded higher on Wednesday, with January leading the way, gaining 1.42 for the session. The Jan contract exceeded or equaled the past 8 days highs, and broke the down trend line in the bull flag formation on the daily bar charts.

CME Livestock Review: Cattle Complex Bucks Early Downtrend

Wed, 04 Nov 2009 21:20:39 GMT

Chicago Mercantile Exchange live cattle finished higher Wednesday on cash cattle price optimism, fund buying and buy stops.

CBOT Corn Review: Rally Ends; Bearish Crop Projections Weigh

Wed, 04 Nov 2009 21:18:25 GMT

Chicago Board of Trade corn futures ended lower Wednesday as funds ended their recent shopping spree and bearish crop projections weighed.

Allendale Early Calls: Corn Higher As Traders Anticipate Fund Buying, Cattle Trades At $88 In The South

Wed, 04 Nov 2009 14:42:41 GMT

The news was not bullish this morning when the newswires were reporting 2 deaths from food borne illness caused by E-coli. However it did not seem to impact futures. Cash news remains good with cattle trading at 88.00 in the south and 135.00 in the north.

Schwieterman: Feeder Cattle Futures Follow Live Cattle Lower, Corn Market Stronger

Wed, 04 Nov 2009 14:31:09 GMT

It doesn’t pay to underestimate the corn market. Concerns about harvest delays and crop size, as well as fund buying, have been very supportive regardless of the activity in the outside markets. Today the outside market influences are positive, so we will see if there is even more buying interest today.

US Cash Cattle Pre-Open: Trading Interest Lower After Monday

Wed, 04 Nov 2009 14:29:12 GMT

Very few fed cattle traded in the Plains Tuesday after nearly 6,000 traded Monday at a steady $88 per hundredweight on a live basis, market analysts and brokers said.

CME Livestock Outlook: Mostly Firm Hogs On Fundamentals

Wed, 04 Nov 2009 14:27:17 GMT

A mostly firm Chicago Mercantile Exchange hogs open is possible Wednesday on steady-to-higher cash hog price calls, said analsyts and brokers.

CBOT Corn Outlook: Up 2c-4c On Weaker Dollar, Technical Buying

Wed, 04 Nov 2009 14:25:38 GMT

Chicago Board of Trade corn is expected to open stronger at Wednesday's open, as a weaker dollar and gains in crude oil continue to feed this week's rally.

Thompson: Live Cattle Bear Spreading, Hogs Struggle

Wed, 04 Nov 2009 14:21:44 GMT

It was a quite day in the live cattle complex compared to Monday. Bear spreading was the feature in the front two months.

OIL FUTURES: Crude Inches Up; Eyes On EIA Data, Fed Statement

Wed, 04 Nov 2009 14:15:39 GMT

Crude futures inched higher Wednesday amid gains in European stock markets and a weaker dollar, but cautious sentiment ahead of U.S. oil inventories data and the U.S. Federal Reserve's policy statement kept a lid on further gains.

CME Livestock Review: Two-Sided Hogs; Profiteers Pare Cattle

Tue, 03 Nov 2009 20:58:06 GMT

Chicago Mercantile Exchange December and February hogs Tuesday settled weak on bear spreading associated with pre-"Goldman roll" activity.

CBOT Corn Review: Ends Higher As Funds Continue To Buy

Tue, 03 Nov 2009 20:48:24 GMT

Chicago Board of Trade corn futures ended higher Tuesday amid continued fund-buying and technical momentum, analysts said.

Beef Cow Enterprise Profits Highly Variable

Tue, 03 Nov 2009 19:33:58 GMT

It is well known that economic returns to cow-calf producers fluctuate widely over time. Figure 1 shows return over variable costs, on a per cow basis, for Kansas Farm Management Association (KFMA) members that kept beef cow enterprise records from 1979 to 2008.

Allendale Early Calls: E. Coli Not Expected To Hurt Beef Sales, Soybeans Lead Market

Tue, 03 Nov 2009 14:51:18 GMT

This morning we noted the two deaths and 26 illnesses related to e-coli should have no bearing on prices or beef demand. US consumers have little concern in the safety of their beef. In addition, the half million lbs of ground beef involved pale in comparison to previous e-coli concerns which involved millions of lbs.

CME Livestock Outlook: Mixed Hogs, Lower Cattle

Tue, 03 Nov 2009 14:38:40 GMT

A mixed Chicago Mercantile Exchange hog open may be in store Tuesday due to possible spillover buying after futures' steep climb Monday versus potential profit-taking, said analysts and brokers.

Schwieterman: Live Cattle Futures & Corn Finish Day With A Rally, Lower This Morning

Tue, 03 Nov 2009 14:30:07 GMT

Fund buying sent the corn market higher yesterday and overwhelmed any negative influences from the outside markets. Overnight that wasn’t the case though and the corn gave back some of yesterday’s gains. The Dollar Index took out last week’s high, which is going to be a concern today.

CBOT Corn Outlook: Lower In Correction From Monday's Surge

Tue, 03 Nov 2009 14:21:53 GMT

Chicago Board of Trade corn futures are expected to open weaker Tuesday as the market gives back some gains from Monday's late surge, traders said.

OIL FUTURES: Crude Lower On Equities; Focus On US Oil Data

Tue, 03 Nov 2009 14:17:24 GMT

Crude futures lost ground Tuesday amid across-the-board losses in European equity markets and concerns over the weak fundamentals of global oil market.

Thompson: Choppy Live Cattle Futures, Corn Rallies

Tue, 03 Nov 2009 14:13:32 GMT

Dec cattle trade was choppy through mid session before seeing a late surge of buying come into the market. The buying pushed the market up into yesterday's resistance level at $86.30.

CME Livestock Review: Hogs Strengthen, Cattle Rally

Mon, 02 Nov 2009 21:01:27 GMT

Chicago Mercantile Exchange hogs settled higher Monday, and added more gains after Friday's bullish close, due to pockets of better-than-expected cash hog prices and buy stops.

CBOT Corn Review: Higher; Surges Late On Fund-Buying

Mon, 02 Nov 2009 21:00:04 GMT

Chicago Board of Trade corn futures ended higher Monday, surging late on a wave of fund-buying.

A Tough Harvest - Frequently Asked Questions

Mon, 02 Nov 2009 15:58:29 GMT

The difficult harvest has not gotten any easier. With most of the corn and still a significant percentage of soybeans still in the field, several management questions have come up very often.

CME Livestock Outlook: Mixed Hogs, Cattle Calls

Mon, 02 Nov 2009 14:45:58 GMT

Analysts and brokers expect a mixed Chicago Mercantile Exchange hogs start Monday.

CBOT Corn Outlook: Up 1-2c On Dollar; Weather Limits Upside

Mon, 02 Nov 2009 14:44:31 GMT

Chicago Board of Trade corn futures are expected to open slightly higher Monday on a weaker dollar, with drier weather in the U.S. corn belt limiting gains.

Allendale Early Calls: Near Term Cattle Slaughter Down, Corn Lower

Mon, 02 Nov 2009 14:38:28 GMT

There are some that do not believe the funds had anything to do with the run higher in grains. They felt that it had everything to do with the delayed planting. Today gave us a day where if you believe the funds more than the market, or weather, or both it didn’t matter because they all pointed lower.

Thompson: Bearish Feeder Cattle, Corn Correction

Mon, 02 Nov 2009 14:28:46 GMT

Dec cattle finished out the weak and under pressure.

Schwieterman: Cattle Prices Down Despite Dip In Corn Futures

Mon, 02 Nov 2009 14:24:49 GMT

The corn was very active overnight. First the December corn tested the 50% retracement of the last leg up, then the market bounced back to close positive. Weather forecasts are dry and conducive to harvest, but weakness in the Dollar was supportive.

Cattle Market Notes: Cash Prices Improve, Weather Is The Factor For Corn

Sat, 31 Oct 2009 21:06:57 GMT

Further improvement in cash fed cattle prices continued this week.

Schwieterman: Interesting Week For Cattle, Poor Wheat Fundamentals

Fri, 30 Oct 2009 22:33:40 GMT

The US Dollar Index didn’t fall to a new low for a change and made a sizeable corrective bounce.

CME Livestock Review:Cattle Down, Most Hogs Up On Positioning

Fri, 30 Oct 2009 20:15:50 GMT

Chicago Mercantile Exchange live cattle closed lower Friday on sell stops, bear spreading and low-priced corn.

CBOT Corn Review: Slumps On Dollar, Drier Weather Next Week

Fri, 30 Oct 2009 20:05:20 GMT

Chicago Board of Trade corn futures ended the week on a down note Friday on tumbling equities, a stronger dollar and dry weather expected in the U.S. corn belt next week.

CBOT Corn Outlook: Down 3-5c; Dollar Continues To Dominate

Fri, 30 Oct 2009 13:29:57 GMT

Chicago Board of Trade corn futures are expected to open weaker Friday thanks to outside market pressure and drier weather expected next week.

US Cash Cattle Pre-Open: Traders Assessing Next Week

Fri, 30 Oct 2009 13:28:32 GMT

With this week's cash trading complete, traders now are turning their attentions to next week and hoping they can hold prices steady.

CME Livestock Outlook: Mixed Hogs On Month-End Positioning

Fri, 30 Oct 2009 13:26:48 GMT

Position squaring on the last trading day for the month of October could stir a mixed Chicago Mercantile Exchange hogs open Friday, said analysts and brokers.

Allendale Early Calls: Live Cattle Down, Corn & Soybeans Lower

Fri, 30 Oct 2009 13:13:12 GMT

Schwieterman: Weather Costing Cattle Tonnage, Wheat Finding Support

Fri, 30 Oct 2009 13:07:46 GMT

The ended the overnight session by giving up a sizeable portion of yesterday’s gains. The Dollar bounced back a little and the stocks slipped, which was enough reason for traders to sell.

CME Livestock Review: China/U.S. Pork News Spurs Hog Buying

Thu, 29 Oct 2009 20:16:53 GMT

Chicago Mercantile Exchange lean hogs settled higher Thursday after China announced it intends to remove import restrictions on U.S. pork. Fund buying and short-covering provided added strength to lean hogs.

CBOT Corn Review: Rebounds On Weak Dollar, Midwest Rains

Thu, 29 Oct 2009 19:40:03 GMT

Chicago Board of Trade corn futures ended higher Thursday, rebounding from recent losses thanks to a weaker dollar and soggy weather in the U.S. Midwest.

CME Livestock Outlook: Most Hogs Firm On More Buying, Cutouts

Thu, 29 Oct 2009 13:42:37 GMT

Chicago Mercantile Exchange hogs could open mostly firm Thursday on possible carryover from futures' late-day rebound Wednesday, said analysts and brokers.

CBOT Corn Outlook: Up 2-4c In Bounce On Weaker Dollar

Thu, 29 Oct 2009 13:41:16 GMT

Chicago Board of Trade corn futures are expected to open higher Thursday as the market bounces on a weaker dollar and soggy weather to end the week.

US Cash Cattle Pre-Open: Week's Trading Considered Complete

Thu, 29 Oct 2009 13:38:18 GMT

After a surprising midweek fed cattle trade at prices that are $2 to $3 per hundredweight higher than last week, market analysts and brokers Thursday said the week's activity was done.

Allendale Early Calls: Cash Cattle Rallies $6 In 3 Weeks, Corn Starts Day Lower

Thu, 29 Oct 2009 13:30:40 GMT

Later in the day we saw cash cattle trading start with gains of $1 to $2 from last week at $87. Let’s put this into perspective. Cash cattle have rallied a full $6 in just three weeks! If that doesn’t tell you something about this market than nothing will.

Schwieterman: Live Cattle Cash Sales Reach $88 In The South, Corn Bounces On Weak Dollar

Thu, 29 Oct 2009 13:15:38 GMT

Feeder cattle futures recovered from early weakness to close with moderate losses on Wednesday. Overnight trade was quiet, with minimal trade on either side of unchanged. Look for prices to slowly begin improving if the live cattle can sustain strength in today’s trade.

CME Livestock Review: Cattle Lag; Hogs Beat Back Lows

Wed, 28 Oct 2009 20:15:37 GMT

Chicago Mercantile Exchange live cattle closed weak Wednesday on sell stops, fund sales, and December/April bear spreads.

CBOT Corn Review: Lower On Dollar, But Signs Of Stability

Wed, 28 Oct 2009 20:13:00 GMT

Pressure from a firm dollar and weaker equities helped push Chicago Board of Trade corn futures slightly lower Wednesday.

CME Livestock Outlook: Mixed Hogs; Cattle Mostly Firm

Wed, 28 Oct 2009 13:41:25 GMT

Chicago Mercantile Exchange hogs could open mixed Wednesday on possible spillover from futures' spike Tuesday versus potential profit-taking by those who were recently long the market, said analysts and brokers.

CBOT Corn Outlook: Lower On Weather, Tech Pressure

Wed, 28 Oct 2009 13:33:14 GMT

Chicago Board of Trade corn futures are expected to open weaker Wednesday amid follow-through selling, technical pressure and better harvest weather in the forecast.

Schwieterman: Feeder Cattle Futures Close With Modest Gains On Lower Corn Prices & Improving Cash Demand

Wed, 28 Oct 2009 13:16:06 GMT

The corn traded both sides of unchanged overnight in a broad range and ended the session near the lows. The failure of the $3.71 support yesterday points to a move down to the $3.58 to $3.45 area in the December contract.

CME Livestock Review: Hogs Jump As Shorts Cover, Funds Buy

Tue, 27 Oct 2009 20:21:29 GMT

Chicago Mercantile Exchange hogs closed mostly higher Tuesday on short-covering, fund buying and forward spreading that catapulted December and February to three-month highs.

CBOT Corn Review: Lower On Dollar, Harvest Window

Tue, 27 Oct 2009 20:17:12 GMT

A stronger dollar and improved harvest outlook weighed on Chicago Board of Trade corn futures on Tuesday, as the market continued to retreat from its Friday high.

CBOT Corn Outlook: Down Slightly On Weather, Outside Markets

Tue, 27 Oct 2009 13:47:01 GMT

Chicago Board of Trade corn futures are expected to open slightly weaker Tuesday following overnight losses amid outside pressure and prospects for better harvest progress.

Schwieterman: Feeder Cattle Futures Recover From Early Weakness, Corn Finishes Day Weaker

Tue, 27 Oct 2009 13:14:49 GMT

Feeder cattle futures recovered from early weakness, after getting a boost from 20 cent losses in the corn pit. Strong technical strength in the fats along with modest continuation in the corn overnight, should lead to higher trade in feeders this morning.

CBOT Corn Outlook: Down Sharply On Outside, Tech Pressure

Mon, 26 Oct 2009 20:24:02 GMT

Chicago Board of Trade corn futures tumbled Monday, undoing most of last week's gains amid outside market pressure and an improved harvest outlook.

CME Livestock Review: Live Cattle Bow To Corn Pressure

Mon, 26 Oct 2009 20:21:56 GMT

Chicago Mercantile Exchange live cattle ended weaker Monday on spreaders who sold February and bought December, sell stops and lower prices in corn at the Chicago Board of Trade.

CME Livestock Outlook: Most Hogs Weak, Cattle Mixed

Mon, 26 Oct 2009 13:51:09 GMT

Chicago Mercantile Exchange hogs could open mostly weak Monday on spillover from Friday's futures losses, said analysts and brokers.

CBOT Corn Outlook: Up On Dollar, Lack Of Harvest Progress

Mon, 26 Oct 2009 13:49:20 GMT

Chicago Board of Trade corn futures are expected to open higher Monday following overnight gains, as a slow harvest pace and weaker dollar underpin the market.

Thompson: Feeder Cattle Struggle To Get Above Resistance

Mon, 26 Oct 2009 13:28:45 GMT

Dec cattle closed higher for the week ending Oct 23. Today the market should find initial support at $86.90, but a dip back to $86.32 would not be a big surprise this week.

Allendale Early Calls: Cash Cattle Jumps $5 In 2 Weeks, Rain & Outside Markets Affect Corn Market

Mon, 26 Oct 2009 13:28:04 GMT

So, $85.50 and $86 were the ending cash cattle trades this week. That represents a $5 jump in cash cattle in two weeks! While some of the trade is suggesting this strong move in cash and futures is some kind of outside money issue we do not agree.

Schwieterman: Live Cattle Futures Finished Last Week Strong, Corrective Activity Expected For Corn

Mon, 26 Oct 2009 13:16:17 GMT

Feeder cattle futures had a solid week, in spite of the gains posted in the corn market. Cash levels are slowly rising and live cattle price improvement is giving hope for yearling and calf producers.

Schwieterman: Cash Cattle Higher For 2nd Straight Week, Corn Prices Up

Fri, 23 Oct 2009 21:02:36 GMT

We had yet another week in which the US Dollar Index fell to a new low for the move. Technical indicators are oversold and the market is due for a correction, but there is really nothing that indicates we are near a change in trend in the Dollar.

CME Livestock Review: Fundamentals, Premiums Weigh On Hogs

Fri, 23 Oct 2009 20:02:23 GMT

Chicago Mercantile Exchange hogs settled lower Friday on bearish fundamentals, futures' premiums to CME's hog index and sell stops.

CBOT Corn Review: Dips Back Below $4; Demand Questioned

Fri, 23 Oct 2009 19:57:18 GMT

Chicago Board of Trade corn futures retreated Friday, ending lower after early gains and closing below $4 despite concerns about the delayed harvest.

Cornbelt Update

Fri, 23 Oct 2009 13:59:00 GMT

Cornbelt Update is a weekly summary of news from Extension, government, and other attributable sources, focused on marketing, farm management, and other issues that are of interest to Midwestern farm owners and operators.

KLA: Stop Movement Exercise Tests Emergency Response Capabilities

Fri, 23 Oct 2009 13:52:22 GMT

More than 400 government officials and private industry partners, including KLA, took part in yesterday’s stop livestock movement exercise in Kansas and Oklahoma.

CME Livestock Outlook: Mixed Hogs, Cattle Steady-Firm

Fri, 23 Oct 2009 13:48:41 GMT

Possible position squaring by market participants before the weekend might stir a mixed Chicago Mercantile Exchange hogs open Friday, according to analysts and brokers.

CBOT Corn Outlook: Higher On Soggy Weather, Harvest Delays

Fri, 23 Oct 2009 13:47:23 GMT

Chicago Board of Trade corn futures are expected to open 6 to 8 cents higher Friday as rains promise to delay the sluggish harvest even further.

OIL FUTURES: Nymex Crude Flat; Market Watching Dollar

Fri, 23 Oct 2009 13:43:29 GMT

Crude futures are mostly unchanged Friday, with traders eyeing dollar weakness for further direction.

Thompson: Live Cattle Inch Higher, Hogs Trade Sideways

Fri, 23 Oct 2009 13:32:09 GMT

Live cattle inched higher throughout the session and made daily highs going into the electronic close.

Allendale Early Calls: Taiwan Lifts Ban On Bone-In Beef, Corn Export Sales Bearish

Fri, 23 Oct 2009 13:25:34 GMT

For much of the day corn acted like it wanted to sell off. Export sales were very bearish at only 250k tonnes. The US export pace is getting dangerously behind USDA’s projection (about 9%) and a revision down for US export demand may be needed.

Schwieterman: Live Cattle Prices Hit $87 In The South, Corn Up Another 8 Cents Overnight

Fri, 23 Oct 2009 13:09:02 GMT

Feeder cattle continued to ignore surging corn values on Thursday, closing narrowly mixed and holding on to bullish chart patterns. The cash index rose modestly on Thursday, with the single day average pushing above 95.00 for the day.

CME Livestock Review: Spreads Lift Most Cattle Contracts

Thu, 22 Oct 2009 20:20:57 GMT

Chicago Mercantile Exchange live cattle closed mostly firm Thursday on spreaders who bought deferred contracts and sold October. Buy stops and U.S. stocks' return above the 10000 mark provided added live cattle support.

CBOT Corn Review: Higher; Late Surge On Dollar, Fund Buys

Thu, 22 Oct 2009 20:18:23 GMT

Chicago Board of Trade corn futures ended higher after a late surge fueled by fund-buying, traders said, and the market had a bullish close above $4.

Allendale Early Calls: Live Cattle Futures Continue Uptrend, Corn Bounces As Dollar Index Falls

Thu, 22 Oct 2009 14:40:30 GMT

Officially, live cattle futures have been in an uptrend for only two weeks now. It is interesting, and good news for bulls, that much of the trade is not completely bulled up yet.

CME Livestock Outlook: Mainly Weak Hogs, Cattle

Thu, 22 Oct 2009 13:55:33 GMT

Potential profit-taking after Wednesday's futures gains and negative market fundamentals might produce a mostly weak Chicago Mercantile Exchange hogs open Thursday, according to analysts and brokers.

CBOT Corn Outlook: Down 1c-2c; Profit-Taking, Firm Dollar

Thu, 22 Oct 2009 13:53:28 GMT

Chicago Board of Trade corn futures are expected to open slightly lower Thursday amid outside market pressure and profit-taking after Wednesday's rally.

Schwieterman: Feeder Cattle Futures Rally, Corn Export Sales Down

Thu, 22 Oct 2009 13:10:57 GMT

Live cattle futures gapped above key resistance levels on Wednesday and appear ready to challenge their next key resistance at the 100 day moving averages. Higher cash and cutouts have brought new buyers into the futures market.

Thompson: Continued Live Cattle Strength, New Corn Highs

Thu, 22 Oct 2009 12:57:39 GMT

After the pit open live cattle traded sideways for most of the session.

CME Livestock Review: Cattle Complex, Pork Pits Rally

Wed, 21 Oct 2009 20:33:04 GMT

Chicago Mercantile Exchange live cattle closed higher Wednesday on better-than-expected cash cattle prices, short covering and buy stops.

CBOT Corn Review: Higher On Outside Markets, Weather

Wed, 21 Oct 2009 20:31:12 GMT

Chicago Board of Trade corn futures got swept up in a widespread commodity surge Wednesday, ending higher as the market also got support from soggy weather forecasts.

CME Livestock Outlook: Mainly Firm Hogs, Higher Cattle

Wed, 21 Oct 2009 13:49:06 GMT

A mostly firm Chicago Mercantile Exchange lean hog open is possible Wednesday on short-covering after Tuesday's futures losses and modest overnight-CME Globex hogs advances, said analysts and brokers.

CBOT Corn Outlook: Down Slightly As Outside Markets Weigh

Wed, 21 Oct 2009 13:44:47 GMT

Chicago Board of Trade corn futures are expected to open lower Wednesday following overnight losses amid outside market pressure.

Allendale Early Calls: Live Cattle Trade Higher, Corn Rally Rejected By Speculative Profit Taking

Wed, 21 Oct 2009 13:25:41 GMT

There was some surprise at the Tuesday morning cash cattle trades in the southern plains. A few lots of cattle traded on a live basis at $84.50. Last week most cattle traded at $83 while the Friday afternoon late week numbers moved at $84.

Thompson: Long Term Live Cattle Resistance, Hogs Break

Wed, 21 Oct 2009 13:19:28 GMT

After a quick break the Live Cattle markets stabilized before jumping higher late in the day off of much better cash trade in the North.

Schwieterman: Live Cattle Future Prices Rally Overnight, Selling Pressure Expected For Corn

Wed, 21 Oct 2009 13:10:15 GMT

Live cattle futures started the day under the pressure of heavy deliveries against the October contract, but ended with October trading higher on the day, due to aggressive early week cash trade in the north and south.