Hogs

• April hogs sank early but eventually clawed their way back to finish nearly unchanged, with recent resistance and volatile cutout values sparking some selling pressure.
• Even though cash hogs were slightly firmer, rising open interest and repeated failures at the 99.80 level suggest the market may be nearing a technical top as funds consider trimming long positions.
• Pork export sales were solid at 35,100 tonnes, cumulative 2026 sales reached 427,900 tonnes.

February’26 Hogs 

Grains

• On the overnight soybeans are up 5, corn is down 1 s and p 500 is up40 points, silver is down 4 and gold is up 20 points.
• Grains worked together as soybeans tried to take out the previous day’s highs after Trumps Truth social post saying China will “Consider” raising this marketing years purchases from 441 M bu to 735 M bu a 294 M bushel increase. With only 350 M bushels of carryout a 294M increase is significant.
• Corn followed along and new crop corn closed above $4.60, its first time since the day before the January WASDE report.
• Corn and soybeans close near their highs on the day. It will be interesting to see if corn and soybeans can continue this follow through into Friday.

March’26 Corn 

March’26 Soybeans

Cattle

• Yesterday cattle opened sharply lower and the Feb Live Cattle closed down $5.275 and March feeder cattle ended the day down $6.000.
• A lot of this downward pressure stemmed from JBS workers in Greeley CO voted to authorize a strike. After being fed up with JBS unfair labor practices.
• The stock market was down hard as well as Tech Stocks were down sharply and bitcoin traded below $70,000 also not helping the cattle market any.

February’26 Cattle

Weather

• The Plains and corn belt remain dry through early next week but extended maps continue to show above-normal precipitation; temperatures will stay on the high side of normal right through the middle of the month.
• Northern Buenos Aires saw some isolated rains yesterday and rains hold there in the center-north through the next week-plus, while chances remain slim in southern corn and soybean areas.
• Brazil again saw rains north/northeast over the past 24 hours and the best amounts and coverage will hold there for the next week to ten days; moisture concerns remain in Rio Grande do Sul and southern safrinha corn areas.