Rick Kment

The lack of exuberant news in the weekly export sales report left hog futures slightly disappointed Thursday morning. Although exports were far from "bad" the lack of aggressive increases dampened optimism through the hog complex.

Lean hog trade will focus on the release of two significant reports Thursday. The weekly Export Sales report will start the day, and ending the day with the quarterly Hogs and Pigs report at 2 p.m. This could create moderate hog...

Support has quickly moved into the cattle complex with traders adjusting positions after the early-week selloff. The focus on potentially higher cash cattle trade by the end of the week is sparking increased underlying support...

Firm support in lean hog futures Tuesday is expected to create underlying support as technical support is developing due to trading focusing on potential export pork demand through the upcoming weeks.

Lack of follow-through pressure in outside markets has rekindled buyer support in all lean hog trade as nearby contracts have held aggressive triple-digit gains at opening bell. Cattle futures are mixed with limited support seen...

The report-filled week consisting of the release of Cold Storage Report, Quarterly Hogs and Pigs Report, and Cattle on Feed Report will likely keep traders focusing on market fundamentals through the rest of the week.

Firm losses in outside markets Monday morning quickly changed the tone of livestock trade at opening bell. This developing pressure continues to add concerns that widespread liquidation may develop.

The bounce in cash cattle trade is creating additional expectations for additional support through the end of September. This is likely to focus on trader's positioning for further cash price gains later in the week.

Prices are mixed in cattle and hog futures early Friday morning. Although most of the focus remains in lean hog trade, the lack of active price movement in all markets could limit trader activity through the rest of the week.

Lean hog markets continue to remain in the spotlight with the focus on changes in global demand sparking additional interest in U.S. pork. Underlying support is expected to continue through the end of the week, potentially helping...

Active pork purchases heading to China last week shaped active gains in nearby lean hog futures Thursday morning. This rekindled underlying bullish market support based on the potential to continue to expand pork sales over the...

Firm pressure in feeder cattle futures midweek has started to create some additional concern of further support in the cattle market during late September. Although at this point, prices remain well within the wide sideways trend...

Aggressive gains in wholesale pork values Tuesday afternoon has gained the attention of most hog traders as they focus on the confirmation that pork prices are quickly following recent futures gains higher. This could rekindle...

Uncertainty about whether cash cattle trade will follow through the recent price surge in futures trade is leaving markets sluggish midweek. Hog traders are trying to establish a new market...

Strong gains have redeveloped in lean hog trade as the underlying optimism in the complex offsetting early week price adjustments. Longer term market optimism will continue to be countered with traders taking profits following...

Price retractions in lean hog futures Monday focused on the uncertainty of just how much fundamental or technical support will hold as export adjustments develop surrounding Germany's African swine fever case. Cattle futures...

Firm underlying support is slowly but steadily developing in cattle trade Monday morning. The ability to regain buyer support has helped add technical momentum to the complex during early week trade. Hog futures are mixed as...

Underlying support is expected to redevelop in lean hog futures as traders continue to focus on long-term implications of export demand shifts over the coming weeks and months. But traders...

Expanded trading limits are being used in spot October lean hog futures as traders push prices above $68 per cwt. This support in hog trade is becoming more centered in nearby contracts as questions of long-term market...

The confirmation Thursday of an African swine fever case in Germany sparked widespread market support in lean hog futures as South Korea was the first country to announce bans on pork...

Limit gains in lean hog futures have sparked underlying support in all livestock markets. Reports that South Korea is implementing a ban on German pork following a African Swine Fever case in Germany is giving new life to the hog...

Lean hog futures posted short-term highs in all nearby contracts Wednesday, sparking expectations of further buyer support through the week. Concern that further follow-through selling in cattle futures is developing as cash...

Light to moderate losses have slowly developed in nearby cattle futures with most of the focus on nearby live cattle trade Wednesday morning. Follow-through support in hog futures is sustaining previous momentum, but limiting...

The ability to push cattle futures higher Tuesday is creating underlying optimism through the live cattle and feeder cattle complex Wednesday morning. The focus on breaking away from traditional market seasonality in a year that...

Mixed trade is seen early Tuesday morning as traders eagerly step back into the complex following a long holiday weekend. The limited volume seen last week in front of the holiday has allowed for increased market activity in cattle...

The inability to stop the downward sliding prices in live cattle and feeder cattle has allowed for light to moderate pressure to redevelop at opening bell. This could spark renewed uncertainty through the end of the week. Hog...

Given limited activity in livestock trade and a long holiday weekend ahead, further market swings are very possible without any significant change in long-term fundamental or technical factors. This could lead to another round of...

Cattle futures are shifting lower despite limited trade volume. The overall lack of market activity is having the greatest impact on nearby live cattle futures. Hog futures are mixed in a narrow but sideways range Wednesday.

Narrow gains Tuesday in cattle trade is expected to create market stability as traders focus more on holiday positioning and long-term demand than day-to-day market shifts. Limited activity is likely to be seen through most of...

Livestock futures have bounced higher as traders move into September. Limited overall volume is seen through the entire complex, with expectations that prices will remain generally stable through most of the week. But the higher...

Following strong pressure over the last week in all livestock trade, traders move into the month of September with concern that the weaker trend will continue. Limited activity through the rest of the week is expected with...

Trade interest remains sluggish early Monday morning as traders returned following sharp Friday losses, but seem to be focused more on position squaring than continuing weaker trends that started last week. Narrow market moves...

Limited support is expected to develop early Monday in cattle or hog futures as traders continue to focus on end-of-month position-taking and concerns that additional pressure may develop ahead of the Labor Day weekend. Trade...

Active pressure has continued to develop in cattle and hog futures with traders looking for support levels, but unable to find any. The concern that meat values will start to erode in the near future is causing additional concern...

Firm underlying pressure is steadily moving into live and feeder cattle futures during the week, creating concerns of further price pressure during early September. Hog futures are showing limited stability, but questions if...

Cattle trade remains mixed to mostly lower early Thursday as traders continue to wrestle with the impact of sharp losses seen Wednesday. This could lead to back-and-forth market shifts through the end of the week.

Active losses Wednesday across livestock trade sparked renewed concerns that additional market weakness is likely to develop through the end of the week. This will likely create moderate pressure early Thursday as traders take...

Livestock futures are mixed as traders back away from Tuesday's gains. But the ability to bring some stability into what started as a very bearish week, seems to be attracting limited attention from traders.

Following early week pressure in cattle trade, the focus on continued strength in boxed beef markets has sparked renewed buyer interest to develop in live cattle and feeder cattle trade. Although upward price support is...

Live cattle futures are mixed in narrow trading range Tuesday morning. This is breaking away from sharp Monday losses, helping to add some needed stability into the complex.

Trade reactions from Friday's bearish Cattle on Feed report will likely carry pressure going into Tuesday's trade. But the focus on moving forward and potential short-term demand is expected...

Early triple-digit losses developed in live cattle and feeder cattle futures as traders get the first chance to trade the bearish cattle on feed report. The sharp gain in placement levels in July was the main focus of the report...

Early trade Monday in cattle futures will be focused on the higher-than-expected placement and cattle numbers in Friday's Cattle on Feed Report. Pre-report selling ahead of the report pressured the market Friday, but it is...

Traders are slow to enter the market early Friday morning with increased underlying pressure in nearby cattle trade as traders adjust positions ahead of the afternoon cattle on feed report.

Lean hog futures broke out of previous trading ranges Thursday as bullish technical support became the main driver of triple-digit gains. This underlying support is expected to continue early Friday, although a combination of...

Sharp gains are seen in nearby lean hog futures trade Thursday morning. This has sparked aggressive triple-digit buying in both October and December futures based on expected follow through fundamental support.

Active gains in cash and pork cutout prices midweek has sparked renewed underlying support across the entire complex. The focus on active pork clearance ahead of Labor Day is creating hope buyer momentum will continue into fall...

Limited market activity is seen early Wednesday morning, although buyers are evident across the complex with all nearby contracts posting moderate gains. The focus on short covering in hog futures and renewed momentum in feeder...

Moderate to firm gains in cash cattle trade and boxed beef values Tuesday is creating additional optimism through the complex. Traders are breaking away from grain market moves and focusing on upcoming meat demand. Hog futures...

Buyer support is steadily moving back into the feeder cattle futures which tumbled lower Monday. Lower corn prices is helping to calm fears of surging production costs, giving some hope that recent cattle market gains may not be...

Follow-through buying is steadily moving into live cattle and lean hog futures Friday morning. This movement is limiting price gains, but the underlying firm market tone continues to quickly develop.

Following another round of active cash cattle support last week, feeders are gearing up for another round of price gains. Limited cash market information is likely Tuesday, but the tone remains bullish given the recent market...

Trade continues to balance short- and long-term meat demand needs, leaving futures prices mixed in a narrow range early Friday morning. This could keep markets subdued through most of the session.

Cash cattle trade continues to shift higher throughout the week with some traders still holding out for higher money Friday morning. This could allow light-to-moderate trade to trickle in through late week trade with limited cash...

Active early week gains in all cattle trade has sparked renewed bullish optimism ahead of the Labor Day holiday weekend. Live cattle futures continue to set new short-term highs, driven primarily by technical support across live...

Sharp losses in lean hog futures Tuesday added to the wide market swings seen during early August. Pork prices were unable to continue the surge higher last week, and that is bringing increased caution to the entire complex...

Narrow price moves seen Tuesday morning quickly dashed hopes of further widespread gains across livestock trade. This is causing traders to make light to moderate adjustments and could limit further short-term price support.

Active gains Monday in all livestock trade set sights even higher as traders enter the market early Tuesday morning. The expectation that firming price levels will develop as traders look for increased technical and fundamental...

Strong underlying support is redeveloping in lean hog trade Monday morning with the focus on technical support breaking out of the previous trading range. This could help to bring additional commercial interest back to the market.

Elevated cash cattle sales last week helped to spark renewed fundamental interest through the complex. But this has left futures trade searching for additional longer-term direction. Hog futures appear to focus on expanding last...

Despite firmness in cash cattle trade and higher boxed beef values, futures trade is posting losses in most contracts. The inability to rekindle buyer activity at the end of the week could limit follow-through buyer support.

Cattle futures are expected to coast into the weekend with limited significant market moves likely to develop before the end of the week. Firm support in boxed beef values and cash cattle trade is sparking additional interest...

Firming cash market support during the week is helping to drive additional buyer support into live cattle and feeder cattle trade. This will continue to be closely watched to determine if nearby live cattle contracts can break...

Cash cattle trade in the South is starting to develop with prices generally $2 to $3 per cwt higher than last week's levels. The underlying support is expected to add firmness to nearby futures trade.

Early moves in live cattle and feeder cattle have pushed prices in opposite directions. This is creating underlying concerns about sustaining recent highs in live cattle trade.

Firm pressure is expected to continue in lean hog trade Tuesday morning following early week pressure in nearby contracts. With August and October futures now trading under the $50 per cwt price levels, additional concerns are...

Limited interest is seen in cattle markets Monday morning with traders focusing more on position adjustments following last week's gains, rather than any widespread market adjustments. Hog futures are showing increased pressure...

Traders are entering the month of August with optimism that strong momentum built at the end of July will redevelop in cattle futures. Spot-month live cattle and feeder cattle trade set short-term highs Friday, setting the bar...

Trade has slowed in cattle markets as aggressive buyers so active the last two sessions seemed content to allow prices stabilize before assessing further direction. This could lead to lightly traded market moves over the next two...

Strong buyer support in all cattle trade over the last two days has been driven by technical buyer support moving back into the complex. Although there is underlying support for additional short-term gains, the ability to break...

Firm buyer support quickly moved back into live cattle and feeder cattle futures at opening bell, confirming the buyer support redeveloping in the complex. Moderate pressure in lean hog futures trade is focusing on the lack of...

Cattle traders continue to focus on the ability to regain early week losses, while focusing on firming cash cattle trade and stable wholesale beef values. This could spark renewed buyer support in most cattle futures contracts...

Initial short covering moved into cattle futures Tuesday morning as traders focus on finding buyer interest following the market adjustment Monday. This is leading to limited market direction, but mixed price levels during early trade.

Triple-digit pressure in live cattle and feeder cattle trade late Monday has sparked growing uncertainty about the ability to sustain recent buyer momentum. The potential for firm follow-through technical pressure in cattle trade...

With no major surprises in either the Cattle on Feed, or Cattle Inventory report Friday, traders are busy unwinding protection that was built into the market before the reports were released. This has helped to spark limited but...

Following a full day schedule of Cattle reports Friday afternoon, traders will have little ammunition to make significant market changes during early week trade. Some post-report adjustments are likely Monday morning.

Firm but limited buyer support is moving into cattle traders with traders covering short positions that developed Thursday. Although no major surprises are expected in the slate of afternoon cattle reports, the opportunity to...

The cattle market closed under light-to-moderate pressure Thursday with additional volatility expected during early trade Friday morning. With two major reports hitting the cattle industry at the end of the day, further report...

Lean hog futures led the complex higher early Thursday morning. The focus on continued support in cash hog markets and expectations that additional firmness may develop as traders continue to weigh potential demand support...

Following the Cold Storage Report and USDA Cattle Price Investigation Wednesday, and the Cattle Inventory Report and Cattle on Feed Report through the rest of the week, traders have mixed short-term and long-term market...

Livestock futures are bouncing around in a narrow range as very limited changes are seen in market conditions through the week. Traders continue to focus on reports at the end of the week, hoping for some additional direction...

Three major reports in the cattle industry will be released this week, allowing traders to focus on adjusting numbers and short- and long-term production expectations for the beef industry.

Traders stepped back into the market with light to moderate gains in nearby contracts as short covering became the buzzword of the morning early Tuesday. This may limit upward support as buyer depth appears to be quickly...

As new cases of COVID-19 hit record levels, growing concern on how this will impact not only meat production, but overall demand for meat through the upcoming weeks and months is adding uncertainty to price levels.

Traders are slowly backing away from last week's gains. The ability to cover positions following wide market shifts over the past few days brought about early selling Monday.

The firm undertone seen last week in cash and futures cattle trade is expected to test buyer support Monday morning. Although the expectation for follow-through buying remains, early-week position-taking may develop.

Strong gains have held Thursday morning. This is sparking renewed interest in all livestock trade.

Cattle markets appear to be reaching a crossroads following aggressive market gains Tuesday. The ability to test two-month highs will be watched closely as traders look for additional fundamental support.

Traders have quickly backed away from the market losses seen Tuesday. This has caused increased underlying support in all markets, although nearby live cattle and lean hog futures are setting the firming tone early Wednesday...

Firm losses Tuesday in all livestock markets sparked underlying concerns that buyer momentum seen at the end of last week was quickly slipping away. The renewed weakness across the complex rekindled bearish market concerns in all...

Limited direction is seen early Tuesday morning with live cattle futures holding narrow losses in all contracts as traders focus on the lack of recent support in beef values. The narrow trading ranges during initial trade could...

Firm underlying support on Monday in lean hog futures is helping to spark the expectation of limited follow-through support through the hog complex as the week continues. With August lean hog futures now moving above $50 per...

Feeder cattle futures are leading the cattle complex higher with triple-digit gains Monday morning. The focus on testing short-term resistance levels is sparking additional widespread support through the complex.

August Live cattle futures closed at $100 per cwt even Friday afternoon, helping to spark renewed market optimism that additional, light but supportive momentum may continue in early-week trade. Limited market volume is expected...

Livestock futures are holding a steady pattern early Friday morning with mixed trade seen in all contracts. The lack of additional technical or fundamental news Friday morning is creating a calming effect across the complex.

The ability to post moderate-to-strong gains in all nearby livestock trade Thursday is creating some follow-through support at the end of the week. Cash market support has helped to put the focus on further possible buyer...

Gains trickled into all nearby livestock futures with increased underlying support moving markets off support levels, but still creating uncertainty in longer-term direction.

Cattle futures are slowly retracting gains seen last week with limited market direction developing as traders continue to keep prices contained within a moderate sideways range.

Follow-through pressure is slowly but steadily moving into the livestock market despite initial attempts of short covering in several cattle contracts. Limited volume is expected most of the day, potentially limiting price shifts in all...

Limited trading volume early in the week in cattle and hog futures has left the markets unable to rekindle buyer support seen during the holiday week. This could allow for further sideways market shifts during the upcoming days.

Livestock futures are mixed in narrow trading ranges with very limited moves seen across the entire complex. The strong gains in cattle trade over the last two sessions are sparking a desire for limited market positioning due to...

Compared to strong triple-digit gains seen the last two trading sessions, early trade Tuesday is expected to remain much more subdued as traders take on a more defensive role, trying to add further support to market prices...

Follow-through buying quickly stepped back into the livestock market as traders return from the long holiday weekend. Nearby lean hog futures are leading the shift higher with August futures breaking above the $50 per cwt...

Strong triple-digit gains late last week helped to create renewed optimism through the entire cattle complex. It is uncertain just how much follow-through buyer support will move back into the market following the holiday break...

Despite the potential for moderate end-of-the-week market shifts as traders prepare for the long holiday weekend, limited market direction is expected Thursday. Trade volume is expected to remain sluggish with some traders...

Buyers quickly moved into the cattle complex as traders moved into the month of July. Although there still remains increased uncertainty in the industry and burdensome cattle supplies, traders appear to be happy to move out of...

Limited market direction is likely on Tuesday as traders are quickly falling into "holiday mode" with the upcoming Fourth of July holiday weekend limiting trade. Additional end-of-month and quarter position-taking is expected Tuesday...

Trade volume is at a trickle Tuesday morning with very limited activity expected through most of the day. End-of-month and -quarter position adjustments are expected the main focus of Tuesday's trade.

Limited market direction is likely on Tuesday as traders are quickly falling into "holiday mode" with the upcoming Fourth of July holiday weekend limiting trade. Additional end-of-month and quarter position-taking is expected Tuesday...

Trade Monday morning remains sluggish, with limited direction seen following sharp hog market losses Friday. Trade volume is expected to remain sluggish through most of the week ahead of the holiday weekend. This is creating some...

With the upcoming Fourth of July Holiday on the horizon, overall trade is expected to be sluggish in all markets. Limited short-covering is expected to develop Monday, although the weaker market tone from late last week is still...

Total hog supplies as of June 1 increased 5% from year-ago levels. This is expected to carry a bearish overall tone into nearby contracts, while the expectation of herd size contraction is expected to carry long-term bullishness...