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Market and Industry News

Stay up to date with this week's industry news and market highlights. Also, learn more about what we're up to at Stockguard.

What's new this week?

Last week saw dynamic movements across the market. Live fed cattle prices surged, standing significantly higher than the previous year. Meanwhile, feeder cattle prices remained relatively steady, with notable fluctuations seen in futures contracts. Choice box beef prices experienced a significant increase, while cash hogs and lean hog futures also saw gains. Soybeans demonstrated robust gains, while corn experienced more fractional movement. The week’s forecasts hinted at variable weather patterns, with limited precipitation expected in some regions. In the cattle sector, both live and feeder cattle futures experienced fluctuations throughout the week, influenced by factors such as active trade volumes and changes in the boxed beef market. Despite some downward pressure, both segments managed to maintain resilience. Looking at crops, corn prices faced downward pressure due to technical selling and expectations of smooth spring planting. Soybean prices also experienced a decline, influenced by factors such as potential record-breaking production in Brazil and anticipated increases in U.S. acres. However, wheat prices showed more resilience, supported by ongoing assessments of geopolitical tensions.Looking ahead, market observers are awaiting USDA reports on prospective plantings, which are expected to provide further insights into future market dynamics. Additionally, forecasts of variable weather patterns continue to influence market sentiments, particularly in the agricultural sector.

Market Highlights

  • Last week, live cattle futures experienced notable fluctuations, influenced by factors such as active trade volumes and changes in the boxed beef market. Despite some downward pressure earlier in the week, live cattle futures managed to stabilize towards the end. Today, live cattle futures stand at $178.800. Looking ahead, market observers are closely monitoring factors such as feed costs, consumer demand, and weather patterns, which could continue to influence live cattle prices in the coming days.
  • Feeder cattle futures showed resilience last week amidst fluctuating market conditions. Despite some downward pressure, feeder cattle futures remained relatively steady, buoyed by factors such as active trade volumes and changes in market sentiment. Today, feeder cattle futures stand at $248.550. Moving forward, market participants are paying close attention to factors such as feed prices, supply dynamics, and demand from feedlots, which could impact feeder cattle prices in the near term.
  • Corn prices faced downward pressure last week, driven by technical selling and expectations of smooth spring planting. Despite some fluctuations, corn futures closed lower for the fourth consecutive session. Today, corn futures stand at $4.2775. Looking ahead, market analysts are awaiting USDA reports on prospective plantings, which could provide further insights into corn acreage and production estimates. Additionally, weather patterns and geopolitical tensions continue to be key factors influencing corn prices in the short term.
  • Soybean prices experienced a decline last week, influenced by factors such as potential record-breaking production in Brazil and expected increases in U.S. acres. Despite some volatility, soybean futures closed lower, reflecting market sentiment. Today, soybean meal futures stand at $337.6. Looking ahead, market participants are awaiting USDA reports on prospective plantings and export data, which could provide clarity on soybean supply and demand dynamics. Weather patterns, trade policies, and global demand trends also remain critical factors shaping soybean prices in the coming weeks.

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Industry News

U.S. Losing Ground in Global Grain Trade

As the U.S. share of world corn and soybean exports continues to plummet, questions arise about the nation’s standing in global agriculture. Over the past three decades, factors like technology transfer and the utilization of available land have contributed to this decline. While domestic demand remains robust, the challenge lies in mitigating the repercussions of dwindling market share amid intensifying international competition.

Deciphering Beef Label Claims

Consumers’ curiosity about the origin and attributes of their beef purchases is on the rise, shaping purchasing decisions. Label claims, ranging from grass-fed to breed-specific, wield significant influence in this arena. Understanding consumer preferences and trust dynamics is crucial for stakeholders in navigating the evolving landscape of beef marketing and sales.

Meeting the Help Wanted Sign

Amidst low unemployment rates and shifting labor preferences, farms face significant hurdles in finding and retaining skilled workers. Experts emphasize the importance of strategic hiring practices, creative retention strategies, and thoughtful outsourcing decisions to optimize farm efficiency and profitability. This article delves into the multifaceted challenges of farm labor management, offering insights from industry professionals and practical solutions for navigating the complexities of the modern labor market in agriculture.

Beef Safe Amid HPAI Concerns

Amid the discovery of Highly Pathogenic Avian Influenza (HPAI) in dairy cows, the Meat Institute affirms the safety of properly prepared beef, emphasizing it poses no food safety risk to consumers. With CDC and USDA assurances, the institute pledges continued vigilance to support animal health efforts and calls for adherence to international scientific standards.

Why Should You Use Livestock Risk Protection?

Uncertain feed costs, extreme weather, interest rates, and limited cattle inventory are only a few causes of market volatility. Unexpected market price drops can negatively impact your bottom line and shrink your profits. But there are ways to manage risk and protect your operation. 

Unfortunately, no one can predict exactly what tomorrow’s market may bring. With LRP from Stockguard, you can create a safety net for your investment. Lock in your minimum price guarantee, but rest assured that the ceiling remains open and you’ll benefit if the market is up when you’re ready to sell your herd. Learn more today at stockguard.io

Featured Resources

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