Cattle Market Update: Significant Gains Amidst Market Fluctuations

On the latest trading day, March feeder cattle saw a remarkable rise of $5.95, settling at $362.13 per hundredweight (cwt). Meanwhile, February live cattle closed with a modest increase of $2 at $237.25 per cwt, and April lean hogs were up by 50¢, reaching $91.25 per cwt.

The Commstock Report provided insights, indicating that the cattle market had been cautious while traders analyzed the recent USDA crop reports. Initial concerns regarding the feeder cattle futures’ lack of response were alleviated as feeder contracts reflected gains between $5 and $6, significantly reducing the gap to the cash market.

Crop Market Trends

In related commodity markets, March corn experienced a decline, finishing down 1¾¢ at $4.19¾ per bushel. March soybeans saw a more considerable decrease, closing down 10¼¢ at $10.38¾ per bushel. Wheat markets also faced challenges, with March CBOT wheat closing slightly down at $5.10½ per bushel and March Kansas City wheat down 7¼¢ at $5.19½ per bushel. However, March Minneapolis wheat managed a minor gain, closing at $5.66½ per bushel.

Broader Market Overview

By 3:35 p.m. CT, crude oil prices rose by $1.51 to land at $60.83 per barrel. In contrast, as of 3:20 p.m. CT, both the S&P 500 Index and Dow Jones Industrial Average faced downturns, the former down by 13.53 points and the latter down by 398.21 points.

Morning Market Highlights

Corn and Soybeans in the Red: 9:10 a.m. CT

As trading opened at 9 a.m. CT, March corn was reported down by 3¢ at $4.18½ per bushel, while March soybeans faced a decline of 6¾¢, landing at $10.42¼ per bushel. Additionally, wheat trends continued to reflect downward pressure, with March CBOT wheat down by 2½¢ at $5.08¾ per bushel.

Analysts from The Brock Report noted that corn and soybeans hit new lows overnight, remaining under pressure following bearish estimates from the USDA. Despite the potential for revisions, the finality of the USDA’s projections for the 2025 crop estimates left a pessimistic shadow over market sentiments as traders look forward to spring planting.

Export Sales Announcements

This morning, the USDA announced significant soybean export sales:

• China is set to purchase 168,000 metric tons of soybeans for the 2025/2026 marketing year.
• Mexico has contracted for 152,404 metric tons of soybeans for the same period.

As of 9 a.m. CT, March feeder cattle gained $2.33, reaching $358.50 per cwt. February live cattle were up by 78¢ at $236.03 per cwt, and April lean hogs increased by 30¢ at $91.05 per cwt. Meanwhile, March crude oil reported a rise of $1.33, closing at $60.65 per barrel.

Market Indices Overview

The U.S. Dollar Index for March rose to 98.81 by 8:39 a.m. CT. The broader market trends remained mixed, with the S&P 500 Index slightly up by 2.87 points and the Dow Jones Industrial Average down by 159.10 points.

In summary, today’s trading activities highlighted significant fluctuations within the cattle market and agricultural commodities, shaped by USDA reports and export dynamics.

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