Chicago Mercantile Exchange live cattle futures were mixed on Wednesday, and feeder cattle turned lower, as the U.S. dollar continued to recover and livestock traders remained uneasy about the health of the global economy, market analysts said.
Chicago soybeans and corn slumped on low demand and a stronger dollar on Tuesday as financial markets recovered from an epic sell-off on Monday. Wheat futures rose after a massive tender from Egypt for 3.8 million metric tons to cover imports between October 2024 and April 2025—its largest ever according to traders.
Chicago Mercantile Exchange live cattle and lean hog futures stabilized on Tuesday after sliding during the previous session on fears that the U.S. may be headed for a recession.
Chicago Mercantile Exchange (CME) cattle futures plunged sharply on Friday, with back-month feeder cattle contracts setting new lows, as signs of a weakening U.S. economy spurred market participants to unwind long positions and seek cover, traders said.
U.S. corn and soybean futures fell to their lowest levels in nearly four years on Thursday as forecasts for cool, rainy weather in the Corn Belt boosted yield expectations, analysts said.
Chicago Mercantile Exchange (CME) cattle futures turned lower on Thursday, with the most-active feeder cattle contract FCU24 falling more than two per cent, amid a flurry of fund selling and signs of weakening consumer demand.
The rule, which implements mandates from the 2018 U.S. Farm Bill, requires National Organic Program (NOP) certificates for all organic imports, and certification of businesses at more points of the supply chain, among other changes the U.S. Department of Agriculture said in a news release in January 2023.
Chicago Mercantile Exchange (CME) lean hog futures firmed on technical trading and weaker wholesale prices on Wednesday, while live cattle futures ended lower on a day of choppy trade, market analysts said.
Chicago December corn futures settled below $4 and hit a contract low on Wednesday as favorable U.S. crop prospects weighed and farmers began selling their hefty supplies of old crop corn, traders said.
Chicago Mercantile Exchange (CME) live and feeder cattle futures turned higher on Tuesday as the cash cattle market remained strong, while lean hogs turned lower as traders anticipated slowing ham sales.