Grains:
March corn closed down 1 cent per bushel at $4.50 and May Corn closed down 3/4 cent per bushel at $4.58 1/4 and January soybeans closed down 4 1/2 cents at $10.58 3/4 and March soybeans were down 4 cents at $10.72 1/2. March KC wheat closed down 1/2 cent at $5.33 1/2, March Chicago wheat was down 2 3/4 cents at $5.19 and MIAX March Minneapolis wheat was down 0.01 cents at $5.7925.
With little in the way of fresh news, and in typical holiday-slowed futures trade, corn, soybeans and for the most part wheat traded lower after an early start, with beans and Chicago wheat weakest.
Livestock:
The livestock complex was trading mixed into Friday's noon hour as the market tries to regain focus following the Christmas holiday. Still no new cash cattle trade had developed and no bids were currently on the table.
The live cattle complex was trading higher into Friday's noon hour after as the market is seeing a little bit of a post-holiday rally. More than anything it seemed as though the contracts were trading a tic higher after a weaker close on Wednesday as traders elected to let the contracts fall away from the market's resistance at its 100-day moving average.
The feeder cattle complex was again following the direction of the live cattle market as it too was higher. But what's different about the feeder cattle complex as opposed to the live cattle market is that for the last four trading days, the feeder cattle complex has been able to maintain a position above the market's 100-day moving average in its spot March contract.
Although pork cutout values are up noticeably, the lean hog contracts were still trading lower.