Grain markets wrapped up the session under pressure while the cattle complex continued to lead the board higher.
Corn closed the day at 4.52 per bushel as planting pace and generally favorable conditions across much of the Midwest kept a lid on rallies. Traders continue to watch early fieldwork progress closely with expectations for a strong start weighing on prices.
Soybeans finished at 11.65 per bushel ending mixed on the day. Ongoing global supply competition is still hanging over the market but steady demand is helping keep beans from breaking lower.
Wheat settled at 5.97 per bushel with continued pressure from world competition. Even with ongoing concerns in parts of the Plains the global market continues to drive direction and limit upside momentum.
Livestock markets told a different story.
Live cattle closed at 246.07 per hundredweight extending the strong run as tight supplies continue to support the market. Demand remains solid and packers are still having to work to secure inventory.
Feeder cattle pushed higher as well closing near 370.60 per hundredweight. Strong demand for available cattle and limited supply continues to keep pressure on buyers across the board.
Lean hogs closed at 101.72 per hundredweight finishing mixed as traders balance available supply against uncertain demand signals.
Overall tone to close the day was lower in grains but firmly higher in cattle with livestock continuing to carry momentum into the next session.
More market coverage coming tomorrow on myranchradio.com