By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain futures finished mostly lower Friday, with soybeans taking the biggest hit.
December corn ended about 3 cents lower, pressured by harvest activity and a firmer U.S. dollar. Early U.S. harvest progress is running ahead of the five-year average, although wet weather across parts of the Upper Midwest is creating some localized delays.
Soybeans were under much heavier pressure, with November futures down roughly 12 cents during the session. Soybean meal was hit especially hard, falling around $14 a ton by late morning after being one of the strongest parts of the complex earlier in the week. The soybean market was pressured by profit-taking, advancing U.S. harvest activity and expectations for another very large Brazilian crop. USDA did report a fresh sale of 111,000 metric tons of soybeans to China, but that wasn't enough to turn the market higher.
Wheat also finished lower, with Chicago and Kansas City contracts down roughly 5 to 10 cents.
So Friday's grain story was broadly defensive: corn modestly lower, soybeans sharply weaker, and wheat under pressure as harvest and outside-market factors outweighed fresh export demand.
LIVESTOCK MARKET SUMMARY
Cattle futures tried to rebound early Friday, but the recovery didn't hold.
Live cattle opened more than a dollar higher before turning lower, with December futures down about 50 cents late in the session. Feeder cattle followed the same pattern, opening higher before October feeders fell roughly $1.50 to $2.
The market continues to deal with heavy liquidation following this week's sharp reversal. Traders are also watching the planned reopening of the Santa Teresa, New Mexico, crossing to Mexican cattle next week. That port handled roughly 40% of U.S. cattle imports from Mexico in 2024, making its reopening a significant supply development.
Cash cattle trade remained relatively quiet, with bids reported around $222 live and $350 dressed in Nebraska. Traders were also positioning ahead of USDA's Friday Cattle on Feed report.
Lean hog futures were weaker as well, with December hogs down around 65 cents late in the session.
So Friday's livestock headline: an early cattle bounce faded, feeders remained under pressure, and the market closed out an extremely volatile week still searching for firm footing.