CME feeder cattle hit 3-month peak after corn price plunge
DBA•CME feeder cattle futures rose 2.1% to a three-month high after the USDA raised its 2026 U.S. corn harvest outlook, sending corn futures down sharply. Live cattle also reached a two-month peak, while lean hogs fell for a fourth straight session.
1. Feed costs lift cattle
Feeder cattle futures rallied on Friday after the USDA unexpectedly raised its outlook for the 2026 U.S. corn harvest, sending corn prices down as much as their 30-cent-per-bushel daily limit. Lower feed costs supported feeder cattle, while technical buying also lifted live cattle.
2. Cattle futures settle higher
November feeder cattle finished up 7.075 cents, or 2.1%, at 341.950 cents per pound. December live cattle settled up 3.500 cents, or 1.6%, at 227.050 cents per pound. Both contracts reached multi-month peaks.
3. Hogs extend decline
Cattle futures had faced pressure earlier in the week from sluggish cash trading and falling wholesale beef prices. The USDA quoted choice boxed beef at $373.35 per hundredweight, down $1.50 from a day earlier. December lean hogs fell for a fourth consecutive session, settling at 67.825 cents per pound after reaching a contract low.
