By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain futures finished mostly lower Friday, capping a rough week for corn and soybeans.
December corn fell 4½ cents to $4.97¾, ending the week down 30½ cents. The market continued to feel the impact of Wednesday’s bearish USDA Grain Stocks report, and Friday’s close below the five-dollar mark kept the technical tone weak heading into next week. Pro Farmer
November soybeans dropped 5¾ cents to $12.78¼ and finished the week down 40¾ cents. December soybean meal lost $5.80 to $347.50, while soybean oil moved sharply higher. Selling pressure in beans and meal was tied to long liquidation and deteriorating technical conditions. Pro Farmer
Wheat was mixed. December Chicago wheat gained ¼ cent to $6.83, December Kansas City wheat fell 2¼ cents to $7.35¼, and spring wheat gained 1¼ cents. Wheat largely paused after recent losses, though weakness in corn and soybeans limited buying interest. Pro Farmer
Overall, Friday’s grain trade remained defensive, with corn and soybeans extending weekly losses while wheat stabilized.
LIVESTOCK MARKET SUMMARY
Livestock futures finished mixed Friday, with cattle sharply lower and hogs rebounding.
December live cattle fell $1.70 to $221.475, while November feeder cattle dropped $5.20 to $331.15. Both markets finished near their session lows as traders took profits following recent strength. Despite Friday’s decline, cattle futures remain in near-term uptrends on the charts. Pro Farmer
Lean hog futures moved the opposite direction. December hogs gained $1.20 to $70.125 and finished near the session high after touching a contract low Thursday. The move was driven largely by short covering, although the broader technical trend in hogs remains weak. Pro Farmer
For the week, December live cattle were down 67 cents, November feeders lost 82 cents, while December hogs gained $1.10.
The livestock story Friday was straightforward: heavy profit-taking in cattle, especially feeders, while hogs managed a relief rally after recent weakness.